State funding could nix property tax for Joliet library upgrades

Renovations of the Joliet Public Library main branch downtown may be done without the tax hike that was originally planned.

A city-issued $6.5 million bond would instead be funded through recently approved state capital funding, according to the plan library and city officials are working on now.

"This is new money that came as part of the capital bill that was passed a couple of weeks ago," library Director Megan Millen said Monday.

State Sen. Pat McGuire, D-Joliet, had arranged for the funding as an alternative source to the property tax that otherwise would have been used to fund the bonds, Millen said.

Library officials had calculated the cost of the property tax at between $6 and $9 a year for the average homeowner depending on the value of their homes.

Local officials still need to learn more about the state funding plan to ensure Joliet can time a bond issue that is paid as the state money comes in.

The bond plus $4 million in library reserve funds would pay the estimated $10.5 million in interior upgrades aimed at creating a modern library more suitable for public needs.

"We would structure it so it will be paid in full by the (state) grant and the $4 million," said interim City Manager Steve Jones.

Jones said city, library and state officials still need to talk to hammer out the timing of the grant funding. It is expected to be a multi-year grant, and bond payments would have to be timed with the arrival of the state funding.

Meanwhile, the library project is proceeding almost on schedule for an early 2021 grand opening in spite of the COVID-19 pandemic, Millen said. Library officials have been able to communicate with architects who are coming to the building in the upcoming days for final decisions on the plan.

"We're only a month behind schedule," Millen said.

Interior work is expected start in early 2021.

Plans include museum-like features for children and families, study areas for students, technology for business people, and meeting and exhibition space for the community.