A. From each eligible capital improvement project, the finance department shall place in the public art account an amount equal to one and thirty-three hundredths percent (1.33%) of the project's capitalized costs to the city regardless of whether the project is completed. The city's contributions to the public art account pursuant to this chapter shall be funded from the city's current expense fund.
B. The arts commission shall plan for, and set aside, no less than fifteen percent (15%) of the value of a public art piece for future maintenance.
C. In computing the amount to place in the public art account, the project's capitalized costs to the city shall include:
1. The public art amount shall be determined at the time of the project budget approval and shall be based on estimated design and construction costs.
2. In computing the amount to place in the public art account, the project's capitalized costs to the city shall not include any portion of the project's cost which is not funded by the city unless it meets the conditions of section 1.40.020 of this chapter.
D. Nothing precludes other sources of funding and fifteen percent (15%) shall be used for continuing maintenance. (Ord. 3571, 2017)