During a work session Tuesday, council members pledged to commit $1.6 million for seismic upgrades and asbestos removal in the old structure. Of that amount, $1 million comes from an existing FEMA grant and $600,000 from the city's general fund.
In 2003, voters approved a $10 million bond to develop the Leonardo.
Private donors also kicked in another $10 million.
But rising construction costs have since hiked the structure's price tag by an additional $14 million.
To make up that shortfall, Mayor Rocky Anderson recommended using $5 million from pending real estate transactions, and issuing an $8 million sales tax bond - which requires no voter approval - to fund the rest.
"I'm firmly committed to working with the council to bring the Leonardo to fruition," Anderson said in Tuesday's work session. "This is not the time for putting on the brakes."
Located near the new Salt Lake City Main Library, the old building sits vacant on what has become one of the finest squares in the community, Anderson added, hoping the stalled project can finally get off the ground.
Some council members favor letting voters decide in November whether the city should bond for the entire $13 million and raise property taxes to get it built.
If that plan is approved, property owners will pay an extra $12.47 per year on a $300,000 home and $75.60 per year on a $1 million business property.
A recent Tribune poll showed 52 percent of the respondents are in favor of bonding for the full amount to finish the Leonardo.
Councilman Dave Buhler said he believes other entities, such as the county and state, should also support the facility financially rather than the city covering the whole shortfall.
Councilman Eric Jergensen expressed the desire to move the project forward as quickly as possible
Councilman Soren Simonsen also cautioned against further delays.
"What I don't want to see happen is that we hold off for six to seven months," said Simonsen. "We'd be adding another $1 million to $1.5 million to the project that way."
cmckitrick@sltrib.com
