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Funding Plan Submitted for a
New Minneapolis Public Library

A preliminary plan to fund a new downtown Minneapolis library calls for a $60- to 70-million bond issue to be presented to city voters as early as November 2000. Announced by a civic Library Implementation Committee August 31, the $150-million proposal also anticipates state bonding and tax-increment financing from city businesses and hotels that would yield $40–70 million.

The amount includes $20 to $26 million to repair or renovate aging branch libraries, according to the September 1 Minneapolis Star-Tribune. The plan now goes to the city council and library board for approval.

Taking advice from lobbyists and legislators, the group abandoned plans for state bonding to supply most of the funding. However, the city might have to seek changes in a state law that limits the use of tax increases from private development for financing basic government functions.

A likely location for the new 352,000-square-foot library is on the north end of Nicollet Mall where the Sheraton Ritz hotel once stood.

Posted September 6, 1999.

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Funding Plan Submitted for a
New Minneapolis Public Library