City of Somerville header
File #: 207337    Version: 1
Type: Mayor's Request Status: Approved
File created: 1/9/2019 In control: City Council
On agenda: 1/10/2019 Final action: 1/24/2019
Enactment date: 1/10/2019 Enactment #: 207337
Title: Requesting an appropriation and authorization to borrow $1,600,000 for the renovation and construction of the West Branch Library.
Code sections: Bond/BAN -
Attachments: 1. Overall Debt Service Template Updated 12419, 2. 70571357_1-Appropriation Order (Somerville) Additional West Branch Library 9_2018-c

  Agenda Text

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Requesting an appropriation and authorization to borrow $1,600,000 for the renovation and construction of the West Branch Library.

 

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Official Text

To the Honorable Board:

 

I hereby request, subject to the approval of your Honorable Board, an appropriation in the amount of $1,600,000 in order to complete the renovation of the existing Historic West Branch Library, including an addition thereto and authorizing the issuance of not exceeding $1,600,000 bonds of the City to meet said appropriation. To meet said appropriation, the Treasurer will be authorized to borrow $1,600,000 as provided by MGL Chapter 44.

 

Due to construction cost inflation, the construction base bid for the project came in higher than was originally budgets. The total construction cost for the West Branch Library is now $11,500,000.

 

My staff will be available to answer any questions you may have. Thank you for your consideration of this matter.

 

Respectfully,

Joseph A. Curtatone, Mayor