The City of Guelph has postponed scheduled discussions on the Baker District redevelopment and its new library in light of ballooning costs for the current design.
In a post on their website, the city said staff was surprised to learn this week that the forecasted cost is $14.4 million higher than anticipated.
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City council was to discuss a staff report on Monday that recommended developing an alternative design.
The original projected cost was pegged at $46 million, which council previously approved.
According to the post, financial pressures since then — including a cap on development charges — has led to a shortfall in Guelph’s city-building reserve fund.
“In addition to the higher than expected cost summary, council and staff understand that a library that would differ from the one currently proposed is disappointing for some,” the city said.
Acting CAO Scott Stewart said there are various options and the pause in discussions will allow staff to work through each scenario.
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“A small library is one option,” he said. “Reducing the scope of other tax-funded capital projects, increasing property taxes, an enhanced fundraising campaigning, and/or introducing a special levy are others.”
Council is expected to meet for a public session on the matter in the fall.
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