From The Ottawa Citizen:
The estimated cost of a super library on LeBreton Flats is now $174.8 million and the City of Ottawa will need to borrow $80 million to help cover its end of the development deal with Library and Archives Canada, a new report says.
The completion year is 2024, which adds an additional year to the last estimated timeline.
The city on Tuesday revealed its financing plan for a joint municipal flagship library and Library and Archives building. Construction costs have gone up by $6.8 million since the last high-level estimate. The city says it has refined the costs and also taken into account construction inflation since the last estimate.
Selling the current main library building will help the city afford a new library.
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