“Based on this analysis, a maximum budget of $67.1 million is recommended to build a library that accommodates all of the programming deemed requisite for a library of the future,” the report for the Sept. 16 meeting reads.

The report adds that the new way forward will see both sides looking to stick with a budget target, as opposed to a square footage target.

“(T)his approach allows for more creativity and flexibility in accommodating the key elements required by the library staff and community of the future.”

Loftin added that, pending approval, this would "allow the designers, the architect, and the library team to sit down and figure out how can we maximize that (money)."

"This is what we know we can afford, even with the financial plan, so council can commit to that and let the designers and library folk maximize that amount to get the library that's needed," she said.

To fund this project, the city would need to make a one-time increase in its annual capital transfers to the city building reserve fund.

That move, according to staff, would equate to an extra 0.86 per cent on the property tax levy. However, the report notes staff is looking to phase in that increase between 2020 and 2029.

The operations of the public components of the Baker project would also add between 1.8 and 2.3 per cent to the property tax levy.

The city’s share of the Baker project would come to approximately $106 million, with that money coming from “a variety of sources, including development charges, proceeds from the sale of assets, property taxes and parking revenues,” according to a staff report.

However, the same report notes that this estimate “has a margin of error of plus/minus 30 per cent or $20 million just for the library component and the actual construction cost figures will appear in the capital budget as they are known.”

This would be on top of the $19 million already spent on land acquisition, planning and design work.

While the expected costs have gone up, Kraft said it would pay off in the long run.

“We’re increasing population density in the downtown and providing amenities, infrastructure and services, but that investment will benefit the entire city in terms of taxes and economic activity,” Kraft said.

“This isn’t just a project for the next five years — it’s for the next 10, 20, 30, 40 years.”

This added cost to annual tax bills, however, may come in lower than what is cited in the staff report.

Along with the above noted costs, council is also being asked to green light a direction to city staff to co-ordinate with the library and other partners to apply for funding through the federal government’s infrastructure program.

Last month, the province nominated five transit projects — worth a total of $171 million — for the same program.

The cost of the new library is not the only thing council is being asked to approve later this month.

Also among the requests for future capital spending are $15 million for site remediation, site servicing and archeological work on the property; $2.6 million to construct a planned urban square and related streetscaping on the property; and $21 million for the construction of 280 public parking stalls.

The number of parking stalls is just over half of the 500 originally recommended in the city’s plans to add 900 parking spots to the downtown core.

However, as noted in July, bedrock on the property is limiting parking to one floor below grade, meaning any spots below that become much more expensive.

Given that bedrock is near the surface at Baker, parking spots are already 40 per cent higher than they were for the soon-to-be completed Wilson Street parkade.

These parking spots would not be all that would be on site, however, with the staff report noting that any “private parking spots as part of the residential unit construction will be in addition to the city-owned parking spots.”

In order to make up for the loss in parking that had originally been expected for Baker, Loftin said the city will look to revisit some of the proposed parkades in the downtown parking master plan.

"We'll see what's possible in terms of timelines for their creation or construction," she said.

Loftin pointed to a planned downtown parkade that is already in the city's long-term capital spending plans, adding that that could be rescheduled.

However, the city may need to revisit those parking numbers, as the downtown parking master plan, approved in 2015, pulls data from 2013.

"And now we're in 2019, building a project for the future," Loftin said.

"And the city has heard from the community, and council too has been talking about strategic directions that have us looking in a direction that emphasizes more on climate change, the environment and prioritizes transit."

Loftin added this change in community and council priorities could see a shift in what parking options are considered for the downtown core. There is no timeline for those discussions and resulting public consultations, but Loftin said it would be in the next year or two.