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Q&A
Consequences of funding shortfalls on ongoing library projects
1:17:13
ยท
58 sec
Dennis Walcott explains the consequences of funding shortfalls on ongoing library projects, emphasizing the need to stop projects when funds run out and the resulting increase in costs.
- Funding shortfalls force the stoppage of ongoing projects
- Stopping projects leads to increased costs when they are resumed
- The Queens Public Library team has been able to plug some shortfalls with council investments
- Current shortage of funds means they can't continue projects when shortfalls occur
- Walcott stresses the need for more capital dollars to address shortfalls and complete projects
Dennis Walcott
1:17:13
And to answer part of the question as far as shortfalls, we have to stop the project.
1:17:19
And that goes back to the testimony that we had talked about before and that once we stop then that increases the cost and the cost goes up.
1:17:28
And so that's where our teams and I'll speak for Queens right now have been magnificent in that with the investment from the council on the capital side and as Tony indicated other plans from 02/2016.
1:17:41
Our folks have had the money to then plug a lot of those shortfalls, but now that money is short and therefore when a shortfall happens, there we can't continue it.
1:17:52
And then we can go in thinking a project is fully funded, but then we know the reality that that fully funded changes rather quickly.
1:18:00
And so that's the investment we're asking for as far as more capital dollars to allow us to meet those needs as far as shortfalls and plug them.
1:18:08
Because again, you just can't stop it because we'll be lost.