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Regular City Council Meeting Monday,June 16, 2014 Page 12 Council, Mr. Miller sought to alert them that it could have implications. Howev- er, Mr. Miller noted that there may be some room for a limited additional alloca- tion. Councilmember Willmus asked, if the City Council decided to build a new build- ing, would Building Replacement Funds be available, and if so how much. Mr. Miller noted that the Building Replacement Fund currently had $800,000 available; however, he also noted that a discussion was scheduled later in to- night's meeting for using those funds to bridge the funding gasp for the new fire station. Mr. Miller reviewed the original purpose of the fund contemplated to ad- dress long-term facility needs (e.g. roofs and mechanicals), and noted the millions of dollars of unmet needs identified in the CIP over the next twenty years. There- fore, Mr. Miller advised that he had challenged the License Center staff to not de- pend on someone else to build a new facility, but challenge them to manage their operation so efficiently so as to amass funds to build it with those savings. How- ever, Mr. Miller reiterated that the City Council could choose to repurpose those funds, even though staff had been challenged to address heir facility needs with their own revenue streams. At the request of Mayor Roe, Mr. Miller clarified that setting aside funds for a new license center building had been a staff directive, not done by the City Coun- cil. However, Mr. Miller noted that such discussions came up every three to five years when the License Center lease was renewed; with indications perceived that it wasn't a high priority in the context of other park and recreation facility needs and other significant, unmet needs throughout the community. Therefore, Mr. Miller advised that he personally challenged License Center staff to find a way to get it done. Having been involved in those discussions, Mayor Roe didn't recall any nuance given about saving money to build a new building, opining that he made that con- nection during CIP deliberations and needs assessments. Mayor Roe asked Mr. Miller for a projected estimate for a new License Center. Mr. Miller advised that the License Center currently operates in approximately 4,000 square feet for passport and regular motor vehicle areas; and estimated that $800,000 would suffice for a similar 4,000 square foot facility. However, Mr. Miller noted that this was only for a structure, and did not include any funds if land was acquired as part of that relocation, creating an entirely different story. At the request of Mayor Roe, Mr. Miller reviewed projected annual costs for debt service to borrow $800,000, at approximately $65,000 to $70,000 over a fifteen- year period at today's interest rates; and compared with the $62,000 in annual rent for the leased facility.