Tuesday, September 08, 2009
Madison's Mayor Includes New Central Library in 2010 Capital Budget
Saying renovation of the existing facility would ultimately cost taxpayers more than a new Central Library building, Madison Mayor Dave Cieslewicz announced he would include the Central Library project in his 2010 capital budget. According to a news report, the new building is expected to cost $37 million, including $17 million from taxes, $10 million from private donations, $6 million from tax credits and $4 million for selling the old library after the new library is completed. Redevelopment of the old library site is expected to generate additional property tax revenue for the city.