Committee forwards $31M BLIP bond appropriation for library renovations
The committee approved sending to the full Board an ordinance appropriating $31,065,000 in BLIP bond proceeds plus interest and rent monies to fund branch library improvements. City Librarian Herrera highlighted progress (Noe Valley reopening and multiple projects under construction); the budget analyst said the library’s revised capital budget is about $194.4 million.
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The Budget and Finance Committee on Wednesday recommended the Board approve an appropriation of $31,065,000 in bond sale proceeds from the Branch Library Improvement Program (BLIP) Series 4, together with $3,679,362 in bond interest earned and $151,800 in rent revenues, to fund branch library improvement and construction projects.
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