I wanted to share some more thoughts that I composed on the NextDoor discussion regarding the Clearview Library District Mill Levy proposal. People brought up some great points about whether we need to build the new library now and why the library can’t finance it out of the current taxes they receive.
I’ll be the first to say that I don’t understand how Libraries are funded, but let’s assume that a portion of their funding of their $2.6m operating budget comes from our taxes, and that revenue may have increased over the years due to additional growth. Even then, we’re still talking about operational budget.
I don’t know how your household works, but if you’re a homeowner, chances are that you didn’t purchase your house outright with 100% cash. If my family was expected to save for the complete value of our home using only my operational budget, it would take a lot longer than 30 years for me to buy my home – and by the time I could afford it, my kids would be grown and we’d be too old to manage a house the size that we needed back when our family was young.
Good thing we have mortgages, where the bank takes a chance on us and assumes I can make incremental payments out of our operational budget for the next 30 years, making a return on their investment through interest. We’re able to benefit because we can buy the house that fits our needs now (although I’d recommend buying the house you need 5-10 years from now, if you can afford it – but that’s another post).
While the Mill Levy is not a mortgage loan, it enables the financing to construct needed facilities now, rather than 20 years from now, 10 years too late. Rather than getting interest payments, the community benefits by being able to use the new modern facilities now, rather than having to wait 20 years (imagine if the bank said they’d forgo interest in exchange for being able to regularly use your home).
People raise valid points when they examine current needs and weigh them against priorities, wondering if we should wait until the need becomes more evident. However, we’ve already seen how this played out in how we’ve deferred I-25 and I-70 improvements – and now look at how terrible traffic has become. I wish I could go back in time 10 years and convince younger me to fervently push for an Interstate train, or at least more northern lane expansion between Johnstown and Fort Collins. Now it almost seems like too-little, too late.
One last thing to consider: that proposed area of land, once on the outskirts of Windsor, is really the last opportunity for us to have a centrally-located library. The current location is land-locked, and the architecture doesn’t support vertical expansion, without starting anew. We have an opportunity now to choose what’s going on that proposed plot of land. It’s prime real estate, and something is going to be built on it – are you sure you’ll be happier with what’s built there over a library?