Property consultant Laurie Knight says Council could either lease the space for up to $250,000 or buy it for between $2.5 million and $2.75 million.

“It is apparent the provision of a new library as part of the Cinders Lane Precinct redevelopment may be some time off due to potential funding issues; it is also apparent that the city badly needs a new library,” Mr Knight said.

“I am prepared to offer [office space] to Council for use as a library on either a lease or purchase basis.”

The Phoenix Centre currently houses a gym and the Catholic Schools Office.

Mr Knight proposed converting the building’s ground-floor space of about 1002sq m along with a mezzanine area of 564sq m to be converted into the new library.

“A lease option under a standard commercial lease at current market rent ... would amount to approximately $225,000 and $250,000 per annum, exclusive of GST,” Mr Knight said. Ratepayers could expect to pay up to $2.75 million if the space was bought by Council.

The offer comes as an independent auditor, Paul Cornell, advised Council not to borrow any more money unless urgent.

He advised councillors at Monday’s meeting they would either need to borrow funds or raise rates to pay for the new library.

Instead, councillors will form a working party to further probe costings and a site for a new library. 

Council has already spent about $600,000 on a feasibility study for the new library and for plans drawn up by architect Hamilton Wilson.

The plans cover 2100sq m of space and the development application was passed by Council earlier this year.

Editorial, Page 8