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According to a source who spoke on condition of anonymity, an estimate from an architectural consultant suggested the cost of fitting out the library once built would be $300 per square foot (p.s.f.) instead of $100 p.s.f. or $60 million instead of $20 million.

The basic structure of the library would be built for free as part of the overall building. The developer, Textbook Student Suites of Vaughn, Ont., would also have paid $20 million toward fitting out the library or completing the interior once built.

The developer would have assumed responsibility for any cost overruns during construction, then leased the space back to the library at market rates for the next 50 years. After 50 years, the library could purchase the space for $1.

“Ambitious projects like First Saskatoon Place do not always take a direct path to completion,” Textbook co-president Walter Thompson said in an emailed statement. “It is our strong hope and desire to realize … our vision and complete the project.”

The deal fell apart when the Saskatoon Public Library board refused to agree to move into the space because the costs were higher than the City of Saskatoon was willing to back, the source says. Discussions about the project took place at in-camera meetings by the library board and city council.

The estimate for building a new downtown library ranges from $80 million to $120 million, according to library director Carol Cooley.

In Tuesday’s statement, Totland said funding is not proposed for a new downtown library before 2019.