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City of Santa Monica Prepares to Bond Nearly $77 million for Greenest Building in California History

City of Santa Monica Prepares to Bond Nearly $77 million for Greenest Building in California History

08/04/2017 1:21 PM | Margaret Fulton (Administrator)

August 4, 2017 -- Tackling a project touted for its environmental features and blasted for its cost, the Santa Monica City Council next Tuesday will hold a public hearing on its plan to bond out almost $77 million for a new uber-green annex to its 1938 City Hall.

Staff is recommending the City issue lease revenue bonds of $76.76 million to fund the City Services Building project, which was in effect approved by the City Council in January ("Council Rejects Appeal of $75 Million Santa Monica City Hall Annex," January 26, 2017).

At 50,200 square feet, the three-story building is approximately the size of the current City Hall and will house about 240 employees currently scattered in leased spaces into one location, as well as feature an emergency operations center.

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http://smdp.com/city-hall-built-for-a-21st-century-government/162008