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b-Z 18 Financial Capacity (New Construction and Conversion Projects Only) Applicants with new public library projects shall describe their financial capacity to open and maintain operation of the proposed library including anticipated revenue sources for library operations support. The city of Kedwood city has, is and will continue to be committed to providing excellent library services to its residents. The rces of revenue for the Redwood City Public Library, which will be extended to the Redwood Shores Community Library, ude: General Funds, Fines and Fees, State Library Grants, and Contractual Fees for Service with other Public Agencies. litionally, the Friends of the Redwood City Library and the Redwood City Library Foundation have both been very actively portive of raising funds to enhance services, programs and materials. Fully 9.1% of the City's General Fund is dedicated to try operations, which - in a City that includes a Police and Fire Department - is reflective of its commitment to library service. litionally, the new Redwood Shores Community Library has been designed to support events that could generate revenue for library. Even in the current economic situation, Redwood City fares better than other public agencies in the region. The City has, ugh its Council leadership over the years, maintained prudent financial management and reserves. The staff is currently eloping financial and budgeting scenarios for the next five plus years to ensure that all decisions are made with an erstanding of the future impacts. Although revenues are down, as they are across the region and state, the City is managing get reconciliations with minimal impact to services. Given the established commitment to library service, as well as the strong financial management capacity of the City, wood City is positioned to build, open, and operate a library in the Redwood Shores community that will serve this historically erserved population. Provide the timetable for the proposed project. Show estimated dates of completion for future activities, as well as actual dates for activities already completed. ACTIVITY DATE 1. Planning and Land Use Permits Obtained (If Applicable) > 06/10 /04 2. Site Acquired (Obtain Possession by Purchase, Donation or Lease) > 08/08/69 3. Schematic Plans Completion > 07/01/04 4. Design Development Plans Completion > 12/09/04 5. Working Drawings (90 %) Completion > 06/10/05 6. Construction Documents Completion > 08/05/05 7. Project Advertised for Bids > 08/15/05 8. Start of Construction > 12/05/05 9. Estimated Mid -Point of Construction > 08/11/06 10. Completion of Construction > 04/20/07 11. Opening of Library Building to the Public > 07/14/07 12. Final Fiscal & Program Compliance Review Completed > 10/04/07 Version 1.3 (5/30/02)