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South Bend Redevelopment Commission <br />Regular Me ting - July 6, 1979 . <br />6. NEW BUSINESS (continued) <br />f. Mr1 Nimtz continues..... <br />financial portion. We certainly want to keep you <br />do ntown. It is my recommendation to the Commission <br />that we either carry this over to the next meeting, <br />or that we extend this item for one year. <br />Mr Napoli: I understand your problem, and my problem <br />is that at the end of this year I will have $200,000 <br />in capital funds. By the end of next year, I will <br />ha )e $300,000 in capital funds, and I will be lucky <br />to keep ahead of inflation. My question is this; <br />do I commit that capital to remodeling the main <br />library and providing surface parking, or do I hold <br />back and wait to see what happens....and that is my <br />problem .... I have to commit that capital one way <br />or another. If you say one year, I cannot commit <br />ca ital. Maybe I can do the surface parking, but I <br />am not going to be able to remodel. <br />Mr[ Nimtz: Yes, I can understand your problem. <br />Mr. Napoli: We would also like to expand that lot. <br />This is another question.... Should we purchase the <br />building, or do surface parking? A 10 year extension <br />wo ld have given us enough confidence to say yes, we <br />cai go ahead and do it, and if we have to build in <br />fi e to ten years from now, we can save enough capital <br />in that period of time and be able to do it. <br />Mr. Ellison: Mr. Napoli, assuming the parking were <br />al owed, at what point in time, might the library <br />ba ed on additional usage, find that there is not <br />en ugh space left to meet service needs adequately. <br />Is that going to be necessary 10 years from now? <br />Mr. Napoli: Probably ten years from now, it will be <br />ne essary. The reason is because our collection keeps <br />gr wing and our services keep changing. Such as, <br />co puter technology which takes up more space, and <br />behind the scenes activities, but we think we can <br />solve those problems now with space we have in our <br />basement. There is a lot of underutilized space in <br />the basement that we could remodel and convert into <br />usable behind the scenes work space and public service <br />space, and that will probably cost between $300,000 - <br />$ 00,000. The alternative is to build an addition to <br />the library, which could cost anywhere between one and <br />a half million to three and a half million dollars. It <br />would provide more parking, increase my operating costs <br />ecause I -have to heat, light, and staff it) and right <br />now, I am facing a 52% increase in my operating budget <br />