Cost for new ‘landmark’ library in Williamsburg increases by millions

The cost of replacing Williamsburg's downtown library has increased by several million dollars as council nears voting on the project. I'm Nick McNamara. This is WHRO News. Project contractors told council on Tuesday they expect the building would cost at least $30 million and would surpass $31 if they include optional features. That's after designers shrank the square footage by 5%, reduced the number of elevators, and used less expensive materials to cut costs. Rising cost of materials and labor drive much of the income. The final price will reach past $60 million, including furniture, tech, and interest. The city's financial advisor Davenport said the city has room to layer in the debt over two years without surpassing its debt cap. The Friends of the Williamsburg Regional Library, a philanthropic group, is preparing a capital campaign to raise nearly $3 million for equipment. The city is also looking at using $5 million earmarked for a proposed live performance venue with council approval to lower the debt load up front. Council could vote by mid-September. Nick Mack, the Mara, WHRO News.