City council will once again weigh-in on plans for a new central library … provided construction bids come in over the approved $62 million price tag, that is.
The tendering process is expected to begin early next year.
“City staff are working with the project team to track budgets and provide options during the tendering process to help manage project costs within the current approved budget,” Ian Scott, the city’s manager of facility construction and design, said via email. “The project will proceed provided the project scope and budget remain as per the previous council approval in 2020.”
However, labour and supply shortages have been driving up the cost of capital projects as of late, with bids on several other city projects coming in way over budget. Among them are the South End Community Centre and Speedvale Avenue reconstruction effort, both of which have been put on hold.
Scott acknowledges inflation may be a factor for the library as well.
“Any changes will be evaluated closer to the time of tender and they will be addressed through future recommendations to council if required, as updated estimates are received,” he explained.
Council approved the project and budget in 2020, before the inflationary spike materialized.
That approval came in the form of an 8-5 vote, though three of the councillors who voted in favour are no longer on council – James Gordon, June Hofland and Mike Salisbury – as are two who voted against it – Bob Bell and Mark MacKinnon.
As it is now, the project features a three-storey, 88,000 square-foot structure to be built in the south end of the Baker Street parking lot reconstruction effort which includes two 15-storey residential towers as well as commercial and public spaces, along with underground parking.
The council-approved funding structure for the new library includes a phased-in 21-year property tax levy of 0.39 per cent, intended to generate about $19.7 million, with another $28.1 million from the infrastructure renewal reserve fund and sale of the existing library building, as well as $14.1 million in development charges.
Scott noted the library and parking structure are expected to be open by December of 2025, with completion in 2026.
