What is the Helen M. Plum Memorial Library District Proposition to Increase the Limiting Rate?
The November 8, 2016 ballot question asks for approval of a tax rate increase for the purpose of building and replacing the current 53 year old Library with a new, larger building, as well as expanding library collections, services and programs. This cost includes a temporary relocation, new furnishings and technology, as well as fees and expenses. The Proposition would result in a total increase of approximately 0.216% rate that will fund a $22.3 million loan with a 20 year term, as well as increased operating expenses and capital reserves.
Why is the Helen Plum Library proposing this increase?
It has been 40 years since the Helen Plum Library received a voter approved increase in their tax rate. A 2015 professional assessment of the building’s condition determined that it would cost at least $8 million dollars to replace the original HVAC system, make major structural repairs, and do basic renovations. No additional space or conveniences would be added. Much of the work is recommended to be scheduled over the next 2 years. Currently the Library has only $1 million dollars in its Special and Capital reserve funds, forcing the Board to put a referendum for funding before the public to avoid cutting services.