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4 8-Z <br />Project Timetable - The Redwood Shores community library will be open for operation no <br />sooner than fiscal year 07 -08. The projected first year operating costs are estimated at <br />$650,000. In addition, $250,000 of onetime only funds for the opening day collection will <br />be raised by the Redwood City Library Foundation. Furthermore, staff expects that a large <br />portion of the operating costs will come from the Library's existing budget as most, if not all <br />of the staff will be redeployed to the new Redwood Shored Branch Library from current <br />library operations. At this time, staff is not prepared to say how much of the costs can be <br />absorbed in 07/08 as compared to the current budget. Prior to asking Council to accept <br />the grant, staff will provide you with a more detailed analysis of the on -going operational <br />costs. <br />City staff has been instrumental in developing, generating, designing and strategizing the <br />application process. As per the resolution, staff has also spent many hours reviewing the <br />final documentation with the Anderson Brule team for accuracy and truthfulness. <br />Staff is also asking Council to approve the Joint School Cooperative Agreements between <br />the City of Redwood City with the Belmont/Redwood Shores School District and the <br />Sequoia Union High School District.. These agreements for cooperative service will greatly <br />enhance the use of the proposed library as well as increase the competitiveness of our <br />grant application. The entire grant application and supporting documents have been <br />assembled for your review, and are available in the City Clerk's office. <br />Alternative <br />Council can elect to not approve the Resolution, and thus, not provide the opportunity to <br />compete for grant funds that would provide 65% of the eligible costs of a community library <br />in Redwood Shores. <br />Fiscal Impact <br />If this grant is successful in September 2003, then the City is responsible for $2.99 million, <br />which have been appropriated under the General Improvement District. Staff recognizes <br />that City finances are uncertain for FY 07 -08. We are confident that with the use of <br />existing staffing and using technology revolutionizing self- service return and checkout, the <br />Library can mitigate costs. <br />By approving these resolutions, the City Council is not committing to move forward with the <br />construction of the library. If the grant is awarded to Redwood City, we still have the option <br />of declining the grant if at that time we do not believe we will have the funds necessary to <br />operate library. We expect to know more about the state budget impact on Redwood City <br />sometime between May and August of this year and the grant recipients will not be <br />announced until September 2003. By approving this resolution today, the Council is <br />preserving an option to realize an excellent investment with the opportunity for great return <br />in our community's future. <br />Yvonne Chen Mafjda GonzaUz f Brian Lee Ed Everett <br />Library Director Asst. to City Mgr. Sr. Civil Engineer City Manager <br />