Council approves additional $20 million for Children’s Museum
El Paso City Council voted to budget an additional $20 million dollars for the El Paso Children’s Museum.
Council approved the budget amendment by a vote of 6-to-1, with city rep. Michiel Noe voting against it. City rep. Cassandra Hernandez Brown was not in attendance.
Voters approved $19.25 million for the project from the 2012 Quality of Life Bond.
City officials said the project was not budgeted appropriately in 2012 and is underfunded.
An additional $20 million will come from the private sector. The city entered into a public-private partnership with the El Paso Community Foundation and other community advocates. They created a non-profit called EPC Museum.
The city’s total contribution will be approximately $39.25 million. $19.25 million is coming from the 2012 quality of life bond. The remaining $20 million will come from the issuance of Certificates of obligation.
Certificates of obligation are a form of debt that doesn’t have to be approved by voters.
Some municipalities use certificates of obligation for emergencies, but the City of El Paso can use them to fund projects. But the more debt that gets incurred, the more tax payers have to pay.
Chief Financial Officer Robert Cortinas said by issuing the certificates of obligation, property taxes would increase by an additional $3 per year for every $100,000 of a home’s valuation.
City Engineer Sam Rodriguez said the project should be completed by early 2022.
The museum will be located at 201 W. Main between the El Paso Museum of History and the El Paso Museum of Art within the Downtown Arts District, an area that attracts more than 1.5 million visitors per year.
“The City of El Paso is committed to building a world-class children’s museum, and this public-private partnership provides the best model to ensure the long-term financial success of this endeavor,” said Tracey Jerome, Director of the City of El Paso Museums and Cultural Affairs Department.
