Deputy City Manager Tom Modica indicated that the City plans to build the pool using Tidelands Fund (oil revenue) but acknowledged that if the price of oil remains below $100/barrel, other funding sources -- not presently specified -- might have to be tapped.

A city staff Power Point presentation also acknowledged that the new pool is currently expected to cost roughly $1.3 million more in annual operational costs than the seismically shuttered pool it's replacing.

Multiple speakers supported the project and praised Councilwoman Price (drawing applause as her name was mentioned) for her role in gaining Council support for project. Councilwoman Price said her research into the cost of pools put the cost in that cost area, and Deputy City Manager Modica agreed.

Several Councilmembers called the pool rebuild a citywide asset and said it could be used and enjoyed by residents citywide and regionally.

Ann Cantrell was bluntly critical: "I find that tearing down a useable structure because of earthquake concerns and then spending millions to rebuild in the same location to be ludicrous," she told the Council. "I believe that finding another location such as the events park next to the Queen Mary or even at the Pike (remember the Plunge?) makes more sense." Ms. Cantrell quoted City Hall's Financial Management Director John Gross as saying "In this even more uncertain oil revenue environment, it is beginning to appear likely that there may not be enough funding available in the short-term to fund the proposed Tidelands Budget and Capital Plan."

Ms. Cantrell said that with the drop in oil prices below $100/barrel, it's "unlikely the City will be able to find the funds for this amount, not to mention the added $4.1 million being asked for tonight. And where would the additional $4 million come from? Other needed Tidelands projects--Naples Seawalls and beach bathrooms; not to mention any possibility of restoring the Los Cerritos Wetlands."