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2. It’s the lowest-cost path over time. Deferred maintenance gets more expensive every year we wait. Putting off fixes to roofs, boilers, and electrical systems costs more over time. It also means the risk of big problems, which can debilitate the use of the building and cause new damage. Funding all fifteen buildings together, instead of lurching from one emergency repair to the next, is how we get the best value for every dollar residents put in. This is at the core of financial stewardship. 3. Voters set the ceiling, with actual spending determined by public process with future councils. The $400 million figure is a cap. Actual spending on each facility will still come back to a future council for approval, project by project. Residents will experience the mill levy only according to potential amounts approved. This measure creates the option to move forward. It doesn’t spend the money itself. Strengthening Boulder’s Leading Approach Boulder's situation reflects a pattern playing out in cities across the country, as buildings from the 1960s-1980s building boom hit the end of their useful life at the same time. The good news is Boulder is ahead of the norm in many ways. Our 2021 Facilities Master Plan created a practice of saving 2% annually for building maintenance, and gives us a complete, expert view of our entire building portfolio. Our Long-Term Financial Strategy, which I serve on, is working to make major costs like this one visible years in advance instead of showing up as a surprise, laying the groundwork for a comprehensive dashboard of Boulder's financial health. And the move to consolidate public buildings, started multiple councils ago, is a proven way to bring down long-term costs across the portfolio. The next phase of modernizing how we take care of facilities involves two things. First, further developing a capital renewal fund that reflects our needs citywide, across departments. Second, building a public-facing financial health dashboard explaining the city's long-term picture comprehensively, with total cost budgeting for facilities and infrastructure alongside key indicators like how exposed Boulder is from relying too heavily on sales tax and one-time funds. Both should sit within the next phase of our Long-Term Financial Strategy work, with council oversight built in from the start. Residents can hold future councils to having them in place before actual facilities investments covered in the $400M ballot initiative are considered for approval.
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