TRL Board member O’Connell states on his blog about last night’s Board meeting:
“What happened most importantly was that the proposal from the city changed between when it was sent to us last week to tonight when we actually heard from the mayor:
* Most significantly, the price of the condo purchase decreased by $200,000 because of a personal contribution by Margaret Clapp, who owns the current leased site.
* Also, because Timberland can only bond for a period of six years, the city of Yelm would (once the city council approves) bond the entire $1 million purchase over 20 years.
The idea behind Timberland contributing towards O&M is that it would defray for the city the cost of paying back the bond.”
CONGRATULATIONS TO MAYOR HARDING & THE YELM CITY COUNCIL IN FINALLY COMMITTING TO THEIR CONTRACTUAL AGREEMENT (FROM OVER 10 YEARS AGO) TO PROVIDE A PUBLIC LIBRARY FACILITY FOR THE GREATER YELM COMMUNITY!