Board approves $535,000 budget increase after Albina Annex property sale; project to retain $463,294.50 net

County staff asked the board to approve a one‑time FY26 budget modification to recognize revenue from the sale of the Albina Annex property adjacent to the Albina Library. Kate Vance, deputy director for the library capital bond program, said the action would increase the appropriation by $535,000 for fund 2517, with the Albina library project expected to retain a net cash amount of $463,294.50 after expenses including broker commissions, title and escrow and agreed repairs.

The presenters said the adjustment is a one‑time FY26 action; any remaining funds at fiscal year end would be reclassified as beginning working capital and carried forward to FY27 to support the Albina library project. Commissioner Singleton moved the item and Commissioner Bram Edward seconded.

During public comment Lightning asked about the buyer and broker disclosure process and whether three local nonprofits were notified before an open market listing. Staff and board members described community benefit considerations and confirmed that proceeds would remain dedicated to the library bond project. The board approved the budget modification by roll call.

Vote details: Commissioners Moyer, Singleton, Bridal Edwards, Jones Dixon and the chair voted in the affirmative during the roll call recorded at the meeting.

What this means: The Albina library capital bond project will receive additional one‑time revenue to support construction and related costs; staff said the funds will be carried forward if not spent in FY26.