Aurora City Council postpones public library bond vote
By Stephanie Lulay firstname.lastname@example.org September 7, 2012 5:42PM
Updated: October 11, 2012 6:10AM
AURORA — A City Council vote on the issue of bonds to fund the new downtown library will be delayed for two weeks.
In a memo to aldermen, City Finance Director Brian Caputo said that he is postponing the sale of the library bonds until Sept. 25 “to allow for more discussion on the matter in order to reach a consensus on the final sale amount.” The vote had been scheduled for Tuesday.
Caputo said the move comes after several aldermen raised questions about the bond issue for the $28 million library project.
At a Committee of the Whole meeting, a few aldermen asked why library officials do not intend to use all of an expected $10.8 million state grant for the new library to offset the real estate tax burden on residents.
When aldermen approved bond funding last spring to pay for a new main library downtown, it was on the condition that all grant money received toward the project would be used to lower the bill for taxpayers.
But John Savage, chairman of the library’s building committee, said the library now plans to keep about $3 million of a $10.8 million state grant to reimburse the library’s expense of acquiring the land for the new library — the former Beacon-News site at Benton and River streets. The library would use that money for technology improvements and satellite branch locations.
The library plans to use $7.6 million of the state grant to offset the tax levy.
Library staff expects to break ground on the new library in spring 2013.