Thank you, Mayor.

We're recording this evening.

Great.

I just want to call this meeting to order.

Welcome everybody to this work session, June 9th at 501 p.m.

Thank you.

Would you lead the pledge?

I pledge allows to the flag to the United States America.

Mayor's remarks.

Thank you.

The first item under strategic priorities is the performing arts center.

Manager Career for presentation.

All right.

Good evening, Mayor and Council.

The next steps for the potential performing art center all require direction from the council.

So I'm glad you guys are here tonight.

The memo in your agenda packet reviews the past discussions of the issue.

In that review, the memo walks through the city's strong and stable financial position, which shows the city has accruals and other saving mechanisms in addition to the proposed use of cash on hand for the project.

The memo uses a lot more words, but I'm going to summarize it as saying the financing portion of the project makes good financial sense.

As validated by our outside financial advisor, the three best options for financing are general obligation bonds, public facility authority financing, or the Georgia Municipal Association lease purchase program.

Determining which financing mechanism makes the most sense is best answered by the intended use of the facility.

On the top of the fifth page of the memo is a graphic that represents a continuum between community use and use of the facility by outside groups.

Determining the most appropriate financing method depends on how you want to use the facility.

So depending on the financing method you choose, the memo outlines other potential follow-up questions related to a bond issuance if that happens to be the most appropriate financing mechanism.

But the big question I'm really hoping to get clear direction from the council on tonight is your intended use of the facility.

Where do you fall in that continuum between community use and use by outside or private groups?

So with that introductory and summary, happy to go into more details if needed in the conversation, but I'll pass it back to you, Ms.

Mayor.

Okay, well thank you.

And I correct me if I'm wrong, but I think that we also probably are expected to give some idea of what kind of path we would like to go down, if any.

Yes, absolutely.

So in the memo, it kind of links the different continu anticipated use of the facility to different financing mechanisms.

So happy to talk through that some more if you'd like.

But yes, if you can weigh in on both, your intended use of the facility and which finding method financing method you think is most appropriate.

Sure.

Thank you.

Well uh so from additional information that we've gotten since the last time we really dove deep on the financial aspects, uh, which was two meetings ago.

I think it sounds like the brick and mortar program is not necessarily a fit because of some of the usage issues and and almost sovereignty of the city with the project.

You know, I've always envisioned this as a community multi-purpose uh center.

And obviously it's going to have a performance and art uh bent to it, but that would continue to be my vision.

And uh, you know, I think that you've done a good job laying out the cash on hand, and then I think with that a 40 million dollar bond question to the voters in the fall is uh appropriate, but that's where I am.

Thank you, Kimberly.

Like the memo is pretty detailed and you went into pretty much all the aspects.

So it's my city's intention should be primary community use.

So going with the geobond.

Currently we don't have any uh big capital projects that I would really want to roll into this one because the other ones are all uh most of the ones in the CIP or other ones are we can cover through the general fund or appearance or place.

So those can be easily addressed in there.

So I would rather just stick to the uh the whatever you want to call it, community center or performance theater, so that and primary community use.

And you pretty much explained in the memo, like it's not really focused on a specific group.

It's more for the like a broad community and like multi-use of this facility.

So I would really just keep it to one.

Anything?

Any other questions we need to do or we are good?

Uh no, you actually answered the follow-up questions in the memo as well with your remarks.

Thank you.

Thank you.

Firstly, uh thank you, Kimberly, because I know this has been Kimberly K.

Chris, uh a lot of work on staff, and thank you very much for answering all my numerous questions and emails so uh timely.

I very much appreciate it.

And thank you to council, because I know we've put uh all put a lot of work into going over this stuff and preparing for today.