The Lubbock City Council will fund the George W. Bush Presidential Library up to $50 million with future growth.
The vote allows the city to give $50 million in bonds based on portions of tax revenue from new construction and economic development funds starting in 2010. Both Mayor Marc McDougal and Mayor Pro Tem Tom Martin are in favor of the library, but say this method of funding will leave future councils in a predicament.
"A future council will be faced with the future prospect, looking for money for growing services for fire, police parks and other services and will have to raise taxes," said Martin.
Martin says he was in support of a $10 million funding plan. Meanwhile, David Miller, who is heading up the effort to bring the library to Lubbock, says the city's commitment helps bolster the coalition's confidence.
"I think we'll make a credible proposal in the eyes of the president and first lady," said West Texas Coalition Chairman, David Miller.
Thursday, Congressmen Randy Neugebauer, Mac Thornberry and Mike Conaway wrote a letter of support on the library efforts and that will be included in the proposal.
|Bringing The Presidential Library to Lubbock|