In its first day of deliberations on the 2010 executive capital budget, the city's Common Council approved two amendments pushing the new Central Library closer to completion.
The first amendment guaranteed that the city would not begin any significant portion of the construction of the library until it has received complete assurance that certain federal tax credits have been made available to them.
Ald. Michael Schumacher, District 18, said the fundraising aspects of the project are extremely important.
Schumacher removed the original requirement of raising $4 million in private fundraising for the project, but said he would still like to provide comfort to taxpayers.
""This is good comfort language for those worried about the price tag and for it continuing as planned,"" he said.
These New Market Tax Credits would potentially provide a ""real opportunity"" that might not exist a year from now, according to Tom Landgraf, a resident and member of the city's Alcohol License Review Committee.
""To make a New Market Tax Credit allocation work, any sponsor of the project is going to need debt financing,"" Landgraf said. ""Typically that comes from banks, and as you know, banks are under tighter scrutiny to approve loans. The fact that you can avoid going to the bank for that moves you ahead.""
Tripp Widder, president of the Madison Public Library Board, said he did not have any problems with the amendment and that it would not affect the board's ability to accomplish its goals.
Ald. Mike Verveer, District 4, said the project has been many years in the making.
""The fact that we have kept [the old building] together with duct tape and string is a testament to the staff. It's embarrassing and overdue for a replacement,"" he said.
One of the only alders to oppose the amendment was Ald. Judy Compton, District 16, who said she felt the council was not fully supporting the other library branches on the east side and felt the cost involved was too large.
The council also voted to look into the feasibility of putting a community garden on the roof of the new Central Library. Many members of the Downtown Community Gardens group were present to support their hopes for a green roof.
