Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Projects topic
No spam. Unsubscribe anytime.
Library bond oversight committee gives program a green rating; $25M uncommitted balance remains
Summary
The independent Library Bond Oversight Committee reported that the $387M bond program is on target across budget, schedule, audits, DEI and engagement, with $25M uncommitted and final projects expected to complete in 2026.
The Library Bond Oversight Committee presented its third annual report to the Multnomah County Board, reporting green ratings across budget management, audit results, schedule and project progress, diversity/equity/inclusion and community engagement.
Committee Chair Nicole Paxton said the committee "felt comfortable giving everything a green rating," noting strong budget management and transparent monthly reporting. Independent review by audit firm Baker Tilly found no material exceptions to the agreed-upon procedures and validated reconciliations for contracts over $500,000.
The bond sale in 2021 raised $387 million; favorable interest rates and additional outside funds increased available resources to roughly $459 million. As of the most recent reporting, roughly $333.7 million had been spent, leaving a program budget balance and an uncommitted balance of about $25 million according to the committee's reconciliation.
Project teams expect completion of major bond projects by summer 2026. The committee highlighted progress on new and renovated branches (Holgate, Midland, North Portland, operations center) and recommended continued monitoring of equity outcomes for the construction workforce, particularly the participation and advancement of women at journey-level trades.
The oversight committee will continue monitoring spend-down of reserves and analyze before/after usage data to measure community impact once projects are open.
