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EPORT <br />- From the City Manager <br /> <br /> August 5, 2002 <br /> <br /> Subject <br /> FY 2002/03 and FY 2003/04 agreement between the City of Redwood City and San Mateo <br /> Library Joint Powers Authority to share the costs of operating the Fair Oaks Library. <br /> <br /> Recommendation <br /> Approve the FY 2002/03 and FY 2003/04 agreement between the City of Redwood City <br /> and San Mateo Library Joint Powers Authority to share the costs of operating the Fair <br /> Oaks Library. <br /> <br /> Background <br /> The City of Redwood City (CITY) entered into an agreement with the County of San Mateo <br /> to share the costs of operating the Fair Oaks Library in June 1995. The initial term of the <br /> agreement was 30 years (renewable every 5 years) as long as the facilities are used for <br /> community services purposes. The first year of the agreement was FY 1995/96. The <br /> County contribution would increase or decrease at the same rate as the change in the <br /> County Library's base property tax income for the previous year. <br /> <br /> Since then, the operation of the San Mateo County Library has been transferred to the San <br /> Mateo County Library Joint Powers Authority (AUTHORITY), who agrees to assume in full <br /> the County's prior obligations, on the condition that it is limited to two years. In July 2000, <br /> the City Council of Redwood City approved a resolution to approve the agreement <br /> between the City of Redwood City and San Mateo Library Joint Powers Authority to share <br /> the costs of operating the Fair Oaks Library. The base contribution for FY 2001-02 wes <br /> $142,456. For FY 2002-03 through FY 2004-05, the based contribution shall be increased <br /> or decreased each fiscal year at the same percentage rate as the change in the JPA's <br /> property tax revenue from the previous year. <br /> <br /> Alternative <br /> Enter into further negotiation with the AUTHORITY to change the terms of this agreement. <br /> <br /> Fiscal Impact ' ' <br /> None, the City Of Redwood City continues to assume approximately more than half of the <br /> cost of Operating the Fair Oaks library. That amount has already been budgeted for FY <br /> 2002/03 and FY2003/04. <br /> <br />- Yvonne Chen <br /> Library Director City Manager <br /> <br /> <br />