Burbank says Measure P, grants and bonds will fund Library Civic Center; housing element unbundled from site
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Summary
Finance staff told council the city will use Measure P revenue and development fees for soft costs, issue a bond for construction, and has identified $10M state and roughly $3M federal grants; staff and planning clarified housing originally proposed on the library block has been unbundled and will be pursued on other downtown sites.
Jennifer Becker, with the city’s financial services, told the council that the city has been planning to fund major capital projects with Measure P, a 0.75 percentage‑point transactions and use tax approved by voters in 2018.
Becker said soft costs leading up to construction will be paid with Measure P cash and development impact fees, while the hard construction costs are expected to be financed through a bond. "Measure P is a steady source of revenue," she told the council, and the city plans to use expected Measure P receipts to pay debt service on any bond so the general fund is not burdened.
Becker also said the city has secured a $10 million Building Forward state grant and roughly $3 million in a recent federal appropriation; staff will continue to pursue one‑time grants to reduce the borrowing need.
On bond terms, Becker said the city has not set the final amortization but would likely align the repayment period with the project life — commonly 25–30 years — and target level payments.
Several council members pressed staff about the housing component previously associated with the library block. Assistant Director of Planning Fred Ramirez said the housing concept was unbundled because market forces and feasibility made the public‑private partnership form infeasible for that site. Ramirez said the city will look at other city‑owned and privately owned downtown parcels to meet housing goals and that a downtown specific plan update will present options and sites.
The city manager and staff referenced a November 2024 staff report that explains the decision to unbundle housing and the alternatives considered. Ramirez said council and the public will see updated concepts as part of the upcoming specific plan work.
Status and next steps: staff will present additional capital‑finance detail as the project moves into procurement and will include grant and lease scenarios to reduce borrowing; the downtown specific plan update will provide the public and council with defined housing options.