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2002-05-14City of Beverly, Massachusetts Public Meeting Minutes Board: Library Trustees Subcommittee: Date: Tuesday, May 14, 2002 7:00 P.M. Place: Beverly Public Library Board members present: Joanne Avallon, Todd Balf, Edward Brindle, Lindsay Diehl, Neil Olson, Joanne Panunzio, Helga Senko, and John Young Board members absent: Kevin O’Reilly Others present: Kathleen McMahon, Rob Valliere, Anna Langstaff, Thomas Scully Recorder: Anna Langstaff John Young presided. This was a special meeting to discuss the funding of the Farms Library project and the construction bidding process. Construction bids were opened May 9, 2002. Tom Scully presented a review of five bidders and their alternates. The lowest bidder was M. O’Connor. Tom Scully also reviewed donations and pledges made to the Beverly Farms Library Building Fund. Total pledges and donations: $2,249,356.00. Total expenditures to date: $231,325. Total estimate of probable project cost: $4,037,970 ($4,169,550 with alternates). Procedural issue: The City Council approved a bond authorization of $3 million last fall and the City will need to borrow more money to enable the project to move forward. The Mayor needs to ask the City Council to raise the bond authorization ceiling. Tom Scully pointed out that it will not cost taxpayers more money; the Library still expects the City’s share to be $1.75 million. There was a discussion on how to cover the $400,000 shortfall. John Young made the motion, seconded by Neil Olson, to: pledge to the City an additional $20,000 in state aid annually for the next 20 years in order to balance the additional cost overrun of $400,000 for the Beverly Farms Library. Motion passed. There being no further business, the meeting was adjourned at 8:35 P.M.