Joliet council OKs $3.5 million loan to library

The City Council on Tuesday approved a $3.5 million loan to the Joliet Public Library for remodeling of the Black Road Branch.

City officials said the money is coming out of reserve funds, and the interest charged to the library will bring the same return as city investments in U.S. Treasury bonds.

But the vote was 6-3 with a few council members questioning the use of city reserve funds to make a loan to the library.

“I don’t think this is a precedent we should set,” Councilman Joe Clement said. “I don’t think we should loan money to anybody.”

The library plans to begin by late May on a remodeling project expected to last eight to 10 months and will include a new children’s section.

It is the second major renovation project for the Joliet Public Library, which in 2022 completed its $10.5 million Project Burnham at the Ottawa Street Branch downtown.

Council members pointed to that project and the public appeal of library programs in supporting the loan.

“I support this project entirely,” Councilman Pat Mudron said. “I think the library has already proved itself with the Burnham project and how well they did.”