HomeMy WebLinkAbout06-09-2015 B1 Stanwyck (3)R Council Memorandum
JUN 0 9 2015
June 9, 2015
TO: City Council
FROM: Shelly Stanwyck COUNCIL MEETING:- v�
ITEM NO.:
VIA: Katie Lichtig, City Manager
SUBJECT: 2015 -17 Financial Plan Jack House Elevator Removal Project Update
As follow up to the previously provided update to Council regarding the status of the Jack House
Elevator Removal project, which is not currently in the 5 -year CIP, staff wanted to provide you
with added information that we have recently received.
As Council Members are aware, the original budget request for this project was for $44,000 in
year four (2018 -19) from the General Fund. At the time the CIP request was drafted, at and the
time the CIP Committee considered it along with all other CIP requests, alternative funding
sources were not known to be available.
This week, the Jack House Endowment Fund (and Jack Family Descendant, Katchy Andrews)
has identified that this project could be eligible for Endowment funds. Currently, Ms. Andrews
has indicated that a matching Trust donation of $22,000 could be made available should the City
wish to match this funding for completion of the proposed Jack House Elevator Removal
CIP. Ms. Andrews plans on attending the June 11, 2015 Council Hearing on the CIP Budget to
address this generous donation. She has further informed staff that the Trust earns
approximately $7,000 annually should additional funding be needed at the time the project is
budgeted to begin.