The $36 million rebuilding of New Canaan Library will commence next spring and construction will continue for about two years, according to plans shared Tuesday with town officials.
Under a Memorandum of Understanding or ‘MOU’ with the town that’s been under negotiation for months, the town will contribute $10 million toward the project while the library bears the balance of the cost through its own fundraising and a $15 million commercial construction loan from Bankwell, the documents show. A traffic engineer hired by the library has found that an original proposal to create covered parking is problematic, according to a letter from the library’s executive director, Lisa Oldham, and its Board of Trustees.
Addressing questions that had been raised by the Board of Finance, it’s one of several documents sent to members of the Boards of Selectmen and Finance as well as the Town Council. “The library is committed to the incorporation of a Library Green which is an integral and important part of the overall project,” the letter said. “Therefore, in discussion with several officials at [the town of New Canaan], the Library has commissioned further studies from its engineers and are in full agreement with a plan to accelerate and resolve a plan for parking.”
Taken together, the documents—they include five-year operations budget projections, project schedule and a narrative reviewing new revenues and costs that will come with the rebuilt facility—present a new layer of detail on the widely anticipated project. The town’s funding bodies in preparing to vote on a bond resolution have called in recent meetings for additional information from the library, and the documents address their questions.