Madison Central Library Reconstruction Project To Proceed

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Deal keeps Central Library reconstruction on schedule. (Wisconsin State Journal, 4/28/2011)

Excerpt: Mayor Paul Soglin and library officials have struck a deal that will let the $29.5 million reconstruction of the Central Library proceed on schedule.

As he took office last week, Soglin appeared to cast the future of the project in doubt, saying he wanted guarantees on $8 million in private fundraising and $4.5 million in federal tax credits before putting it out for bids.

Under the agreement, announced Thursday, the nonprofit Madison Public Library Foundation will accelerate fundraising efforts to meet financing and construction targets.

The foundation, which revealed it has already raised $1.5 million, must raise $2.5 million more by Labor Day. A tentative schedule calls for it to raise another $1.5 million by the end of 2011, $1.5 million more by July 1, 2012, and the final $1.5 million by July 1, 2013, Library Board President Tripp Widder said, noting the total includes fundraising costs.

"I have great confidence in the Madison Public Library Foundation and its ability to meet this goal of $8 million," Soglin said in a statement released by the foundation. "We have a plan now that allows the city to assess the progress of fundraising in concert with key points of the project and adjust course if needed."

Soglin, who met with library officials on Tuesday, declined further comment.

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(10/28/2009)
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