Placement: New Business
Action Requested: Discussion
title
Update on the Public Art Fund
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Submitted By: Bethany Grubbs, Senior Planner
Strategic Plan Link: The City's Goal of a high-performing city government organization.
Executive Summary (General Business): This discussion is to provide the Board with an update on the balance of the Public Art Fund.
Presentation Information: Staff will not provide a presentation.
Staff Recommendation: N/A
Background: Certain projects within the City are subject to paying into the Public Art Fund. The Public Art Fund is a separate account set up by the city to receive monies appropriated for the public art program.
Issues/Analysis: N/A
Financial Information: The Public Art Fund currently holds a balance of $1,539,295.11 with encumbrances resulting in a balance of $1,275,569.11.
Special Consideration: The city continuously receives contributions from developers as they receive their Certificate of Occupancies (COs). The current balance does not include planned expenses. In approximate numbers, the following initiative are active or planned:
• Utility Box Wraps $10,000.00
• Ongoing Implementation Support $50,000.00
• City Hall Lobby Artwork $200,000.00
• City Hall Mural $50,000.00
• Public Art Maintenance $200,000.00
• (3) Additional Roundabouts $600,000
Location of Project: N/A
Attachments:
1. Public Art Fund Revenues & Expenditures
NOTE: All of the listed items in the “Attachment” section above are in the custody of the City Clerk. Any item(s) not provided in packets are available upon request from the City Clerk.
Internal Reference Number: N/A