Downtown West Update & Questions

The city staff provided an update to the Downtown West project on February 27. Remember this is the project to create a new city hall and adminstrative offices using the old library and water works buildings.

After the initial budget came in grossly over early estimates, the Council established a $13Million cap.

Here is the funding chart shown at the update.

Of particular concern is the $6.249M cash funding from the sale of the existing City Hall. Is that a realistic number? Who knows what the final sale number will be as it is clearly sometime in the future. There seems to be no backup plan if the proceeds falls short of the estimate!

Also note the Certificate of Obligation, that is a bond issued by the City with no voter involvement or approval, yet, Georgetown citizens will be responsible for paying the bond off.