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process would include whether or not it wanted to proceed with the entire project and whether or not there are sufficient funds for the entire project versus a phased project. He believed staff would have a better sense prior to November as to what it believed the more refined costs would be prior to bidding the project. To clear up any confusion, Mr. Brozosky clarified $6 million dollars was not the budget for this project; it was a placeholder and a reserve in order to move the project along so that fundraising could occur. In response to an inquiry by Ms. McGovern, Mr. Fialho said approximately $800,000 out of the $6 million dollars that was set aside for this project was used for design costs which left a remaining balance of $5.2 million dollars to be applied to this project. Ms. McGovern asked if the estimated '$200,000 of City and agency permitting fees were a part of the $5.2 million? Mr. Fialho said the $5.2 million was a reserve of cash and as part of making up the difference between the $5.2 and $9 million and adding on to the $9 million the permit fees and contingency, the City would need to find a difference somewhere. Ms. McGovern was attempting to provide the community with an overall picture as to what the City should have set aside to build the entire Firehouse Arts Theater, which she believed was estimated between $10 and $11 million dollars. Mr. Fialho said that was correct and noted that currently, the City has designated $5.2 million dollars towards the project. Ms. McGovern said it was important for the improvements at Lions Wayside Park to be done at the same time as the Firehouse Arts Theater. She asked if the estimated $1.48 million dollars was currently available for the initial improvements. Mr. Fialho said the estimated $10 to $11 million dollars to construct the entire Firehouse Arts Theater did not include the improvements to Lions Wayside Park and funds are not currently allocated for the improvements to Lions Wayside Park. Staff has not figured out a way to finance the improvements to Lions Wayside Park and the goal is to partner with the Pleasanton Cultural Arts Foundation and allow them to raise sufficient capital to match City funds to build the complete project as opposed to phases. In the event the Foundation is not able to match the funds, he believed he had a plan that he could present to Council that would allow the project to proceed either phased or completely. If Council chose to proceed with the improvements to Lions Wayside Park, staff would make this allocation as part of the Capital Improvement Program (CIP) update that it would be discussing in the spring. While staff has made plans to apply the $5 million dollars that Council allocated from the CIP to the General Fund to other projects, the decision would have to be made to pull back on some of these projects and apply some of the funding to Lions Wayside Park. Ms. McGovern asked if additional funding was available in the Parks and Community Services budget where projects have been completed and money is waiting to be reallocated? Mr. Fialho said this would be part of the analysis that staff would complete. Ms. McGovern inquired as to whether staff had investigated if the City would be eligible to apply for grants for this project? EXCERPTS: CITY COUNCIL MEETING MINUTES, January 17, 2006 Page 3 of6