Q: Why now, when costs and inflation are so high? Can’t it wait?
Key parts of the project, such as the heating and cooling system replacement, the retaining wall repair, the roof replacement and the health and safety renovations must be done as soon as possible so that the library can continue to provide service to the community without disruption. Bundling the projects together and including renovation work that the community has asked for is less costly than breaking the project into smaller projects over time.
Q: How big is the OPL Bond Proposal? How will it impact me?
A: The bond proposal is $30 million dollars. Taxpayers will see an average increase of about $183 per year, roughly $15.33 per month for a home valued at $625,000 full market value. The Library was able to use existing fund balances to partially offset the tax impact. The library is continuing to pursue other sources (such as grants and donations) as are the OPL Foundation and OPL Friends.
Q: How does the total cost break down by the specific jobs to be done?
A: The budget breakdown can be found here.
Q: Why aren’t you going after grants?
A: We have and we continue to do so.
We love grants and will take any opportunity to share one of our favorite stats: we’ve already completed $1.1 million of improvements. $700,000 of that was funded through grants or donations and the rest was funded by library funds. We have already secured a $100,000 grant for part of the Teen Room relocation from New York State through Assemblymember Dana Levenberg’s office and are currently in the process of writing another grant for over $300,000 to expedite the replacement of part of the heating and cooling system. We will continue to take every opportunity throughout this process to apply for grants that will offset the cost of the total project.
Q: Will taxpayers feel the tax burden for the entire $30 million immediately? What happens if you don’t spend the entire $30 million?
A: The Library will only borrow the amount of money necessary for each phase of the project and will borrow when needed. If costs come in under the projected amount after the money is already borrowed, the excess will be used to pay down the bond.
Q: The entire building cost $15 million in 2007. How can repairs and renovations cost $30 million?
A: Inflation.
Unfortunately, as we’ve all seen in our daily lives, costs have risen substantially in the past twenty years and the cost of construction materials have more than doubled since the library was built.
Q: How come the library can’t do the work in smaller projects, focusing on the most important parts first?
A: We did try that.
The library used grant funds and money that it had put aside to install the first phase of a new heating system in 2021. We installed new meeting rooms, study rooms, and offices using grants, donations, and library funds. We also used money that we had set aside to advance the design work for the retaining wall repair, the HVAC replacement, and the needed facilities work. Unfortunately, the remaining work that is needed costs more than what the library can save up for. Our heating and cooling system has been failing more quickly than expected and will cause continued disruption to our ability to provide library service. The retaining wall and parking lot work needs to be done all at once and it would take many years for the library to set aside enough money to pay for that. Many of the projects are interconnected and it would be more cost-effective if done as part of a larger project.
The library will only borrow the amount of money necessary for each phase of the project. If costs come in under the projected amount after the money is already borrowed, the excess will be used to pay down the bond and the taxpayers will not be taxed for the excess amount.
Q: Why is it a 15-year term? Why not 20 or 25?
A: Legally, bonds sold through the school district for library renovations can be no longer than 15 years.
Q: How did you come to the $30 million figure without bidding out the projects first? Does the $30 million have room to respond to external factors like inflation, material prices, and changing labor costs?
A: Professional estimators who work with municipal building projects were engaged to provide accurate estimates. In accordance with standard practices for building projects, we have also budgeted for contingencies, which cover potential increases in design, contract bidding and construction costs due to unforeseen conditions and inflationary increases.