Okanagan Regional Library Board Annual General Meeting
February 20, 2008, 10:00 A.M.
8. Buildings Report
Mr. Nettleton reviewed his memo. He reported that construction of the new Headquarters Building is on track, and that the slab for the new tilt-up is expected to be poured by the end of February.
Mr. Nettleton reported that the Vernon referendum, regarding long term borrowing for a civic building, had failed. Councillor Patrick Nicol recognized the efforts of O.R.L. staff, particularly Lesley Dieno and Maureen Kuch, Vernon Branch Head. He addressed the letters received from the City of Vernon1, and asked the Board to consider the need for a larger facility, based on branch guidelines and feedback from branch staff. Discussion was held, including the suggestion to bring the matter to the upcoming SILGA conference in Vernon.
Motion#13 02.20.08 Moved by Rick Fairbairn, seconded by Patrick Nicol,
That the Library Board establish a committee of stakeholders to examine existing space needs for staff in the Vernon branch, and to work with Vernon Council to identify the options for a suitable branch facility. The stakeholders are: Vernon, Coldstream, North Okanagan Regional District, Vernon Library Branch Head, O.R.L. admin staff, ORL Policy and Planning Committee, and public input. Carried.
9. Memo: Building Reserve Recommendation
Mr. Nettleton reviewed his memo, reporting on the reserve funds and financing costs of the Headquarters Building. He reported on the opportunity to transfer funds to allow substantial savings in interest costs over the term of the headquarters building loan.
Motion #15 02.20.08 Moved by Bill Schwarz, seconded by Allan Carswell,
That the Board transfer $1,025,000 from the Building Reserve to the Headquarters Building Reserve to be used to reduce the debt on the Headquarters Building. Carried.
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