Sunday, November 1, 2009

More Questions About Madison Central Library Project

Link to October 31 Wisconsin State Journal article, "Will central library plan be good for Madison taxpayers?"

Excerpt: If all goes as planned, Madison can get a $37 million, state-of-the-art central library and city taxpayers will pay only $16 million of the cost over 15 years.

That's because the financing plan relies on city borrowing plus the sale of the existing library site, federal tax credits, $10 million in private donations, and increased room and property taxes from a second phase of development.

But in a worst case scenario, taxpayers would bear more of the cost and the library initially may not be opened or furnished in a way that meets expectations.

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