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General Fund. Mayor George mentioned that using ARPA funds can help the city to reduce its <br />amount of debtfor capital needs. <br /> <br />President Litten remarked that he would like to get a better understanding of the city’s debt level. <br />He noted that he doesn’t oppose using debt to fund capital projects that are expected to last <br />decades. <br /> <br />Mayor George replied that the current interest rates require the city to be more cautious about <br />debt. <br /> <br />th <br />Studio W. 117 <br />th <br />Councilmember Marx remarked that she has spoken with representatives of Studio W. 117 and <br />that they are appreciative of the allocations made so far. <br />Multiple councilmembers expressed interest in the project but also shared reservations including <br />setting precedents that all developers receive city funds, questions about the county’s <br />expectations for the city’s financial contribution, and compliance with ARPA guidelines, among <br />others. <br />The committee discussed potential options moving forward for members who may not yet be <br />ready to make a financial commitment to the project. <br /> <br />Councilmember Marx expressed concerns about fairness and advocated that Studio West not be <br />held to higher standards than other applicants. <br /> <br />Councilmember Kepple replied that she’s not yet comfortable allocating funds from her <br />individual portion until the request is made more specific, measurable, and defined. <br />President Litten and Councilmembers Marx articulated their intention to provide their individual <br />funding to the project in the form of a direct grant. <br />Youth Divisionbuilding set aside <br />Mayor George addressed the process regarding the selection of Lakewood Community Services <br />Center as the awardee to purchase the Youth Division building. She expressed a strong desire to <br />help Lakewood Alive to find a permanent home and committed to continuing conversations with <br />that organization. She expressed a greater degree of comfort with LCSC’s offer because of their <br />pledged financial commitment. <br />President Litten proposed that the committee move forward with the $200,000 allocation to the <br />recipient of the Youth Division building and that remaining individual ARPA funds be potentially <br />reserved to assist Lakewood Alive to fulfill their goals oncethose are more clearly defined. <br />Mayor George added that if LCSC pays the city $200,000 for the building, those funds are <br />expected to return to the CDBG fund from which they originally were expended. <br />4 <br /> <br /> <br />