Cost of Aurora's Library Square project jumps $2 million to $51.6 million

Downtown project will feature outdoor square and new community facility

Yorkegion.com
December 24, 2019
Lisa Queen

Aurora is jacking up the price tag on its Library Square community and cultural public space project by $2 million.

At a special council meeting Dec. 17, councillors agreed to boost the price tag to an anticipated $51.6 million.

“Estimated costs for the project have increased following consultation with staff and stakeholders and further refinement of the detailed design,” a statement from the town said.

Work on the project, which will be anchored by an outdoor square and a new community facility, is expected to begin in the spring.

During the meeting, council approved an updated funding strategy for the project, which will be determined in part by whether the town can secure grant funding from the federal and provincial governments to help offset the costs.

If the town gets the estimated $31.6 million grant, the rest of the money will come from the town’s hydro investment, sale of municipal lands and community benefit reserve funds, as well as from the federal gas tax grant and development charges.

If the funding doesn’t come through, the money for the project will come from the above mentioned sources, except the amount from the hydro investment reserve will be boosted to $24.3 million.

The hydro reserve fund now sits at $31 million.

Meanwhile, during their multi-year budget deliberations, councillors approved a 0.5 per cent tax increase in 2020 and 2021 to fund a portion of the anticipated annual Library Square debt carrying costs.

The $51.6 million project costs include $1.7 million already approved for rehabilitation and repair work on 22 Church St. and the Aurora Public Library, including a new entrance from Yonge Street, additional programming rooms and a reading garden.

Located at Church and Victoria streets, the outdoor square will include a skating loop, water spray feature, water wall feature, amphithreatre-style seating and a large outdoor space.

It will be used for concerts, festivals, public art displays, markets and more.

The new community facility will feature a performance hall, with seating for up to 250, and a variety of multi-purpose programming spaces.