Does Atherton have a reserve fund? If not they might have to resort to a bond measure. What would be the total cost now needed to complete the project? Hope they can get the bond measure approved, the council had the right intention to get the facility built without the use of tax dollars.

Good luck council

I have every confidence that the City Council will find a solution to the funding issues described here. If the city, the architect, and the public are in agreement on the final design and cost -- which it seems they are -- then lets get started. Issue contracts to begin demolition and civil work. At this point, I'm very happy with the proposed buildings and I just want it done already.

Atherton deserves a quality town center and police station and its citizens can easily support the cost of a quality structure.

Quit trying to cut corners and give the voters the opportunity to support either a new parcel tax or a bond.

Correction - Atherton should build the Town Center that it NEEDS, not the Town Center that it DESERVES! Not everyone in Atherton has unlimited financial resources. We should build an appropriate Town Center and use the Library funds to build a 21st Century Library - a small brick & mortar facility, with a high speed internet to every home in Atherton to deliver the world's libraries to all Atherton residents.

The Atherton staff report provides a comprehensive analysis of the current town center funding situation and potential funding options.
Web Link

Since Atherton is generating a good deal of tax surplus, it's probably not worth the trouble to issue bonds. The Certificates of Participation method seems the cheaper, logistically simpler, and more flexible way to pay for the town center.

Atherton should be able to repay the certificates within a few years assuming nothing terrible happens to the economy. And the beauty of all this is they don't need to increase taxes to do so.

It's certainly rare that a municipality can rebuild its entire town center with hardly any debt and no new taxes. Very commendable job by the town council and staff to have Atherton in such a positive financial position.

"Very commendable job by the town council and staff to have Atherton in such a positive financial position."

I agree. Well done!!

Residents have the highest property tax PLUS an additional parcel tax, the highest-taxed citizens in the Bay Area (and perhaps in California, which would mean the highest-taxed in the United States)…and the town has some money left over. Wow. What amazing fiscal management.

God forbid they should rebate the parcel tax to the residents or do away with it. Instead, let's build a grandiose town center no one will use.

@Amazing

What is exactly grandiose about the new civic center plans? "Functional" is the more apt word I would use to describe it. If I'm not mistaken, the old town center and new town center will have around the same square footage.

The civic center plans address your underutilization concern. Today's civic center area is underutilized because it's one big parking lot. The new civic center gets rid of all that asphalt and replaces it with a larger park and bigger library. These new amenities will encourage more residents to visit and stick around, making the area more vibrant.