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Terms used in this section are defined as follows:
EXPENSES: Actual monetary payments, in-kind assistance, the value of land exchanges, direct or indirect payments to third parties, and any other consideration which promotes or enhances the development of a major library project. Expenses shall not include any City incurred costs for the development of a schematic design, as defined herein.
FUNDING STRATEGY: The planned method of any financing mechanisms that will be utilized to fund any major library project.
MAJOR LIBRARY PROJECT: Any library project reasonably expected to require expenses totaling not less than twenty-five million dollars ($25,000,000).
SCHEMATIC DESIGN: The preparation of studies to ascertain the requirement of the project, consisting of drawings and other documents illustrating the scale and relationship of the project components for approval by the City. The SCHEMATIC DESIGN includes the architect's preliminary estimate of construction costs. (Ord. 58-19, 12-10-2019; amd. Ord. 22-20, 7-28-2020)