Aurora taxpayers to cover $6.7M of Library Square's total cost

Town council approves bridge, vestibule, café, adding to cost of project

Yorkregion.com
July 4, 2019
Teresa Latchford

The price tag for Aurora’s Library Square has jumped to $42.4 million.

Town council has approved the development of an above ground bridge option that links the Aurora Public Library to the new addition at 22 Church St., an expansion of the Aurora Cultural Centre. At the same time, it approved a new library entrance vestibule and café snack bar.

The extra features increase the cost of the Library Square project by $4.1 million.

This means taxpayers are now on the hook to fund a $6.7 million debenture resulting in a one-time, 1 per cent tax levy over the 2019 and 2020 taxation year plus a 0.5 per cent increase on property taxes per year to cover operating costs.

When the recommendation was placed before council at a general committee meeting it was passed without questions or discussion.

However, councillors John Gallo and Wendy Gaertner made comments on the item in question during a later meeting. While both supported the idea of the bridge, they were concerned about the proposed café and jacking up the total cost of the project.

“Firstly, it is important to note that the Library Square’s total approved budget to date was not approved through a single decision by council. Rather, it was approved by council in increments over the course of the past three years,” acting treasurer Jason Gaertner said.

He further explained that $2,340,100 had been approved before March 21 and was funded with $840,100 from the council discretionary reserve and $1.5 million from the Hydro Sale Investment reserves.

“The Hydro Sale Investment Reserve Fund balance presently sits at $30,991,7000,” he added. “This balance is after all previous draws from this reserve relating to the Armoury renovation projects as well as $1.5 million in draws previously approved by council for the Library Square project have been applied.

Funding sources are to be officially decided by council later this year.

To see the full design, visit Aurora.ca.

Library Square cost breakdown:

$10M for outdoor square and parking

$28.2M for Church Street School addition

$4.2M for bridge link, library vestibule, new café

$720,000 operating funding strategy to be funded from tax levy, a 0.5 per cent increase per year