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The debate over a new downtown library began in earnest on Monday at a city council committee meeting.

Here are the answers to some key questions about the project after the business case was presented to council’s governance and priorities committee.

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How much will the proposed new library cost?

The price in the business case has raised some eyebrows at $154 million. Saskatoon Public Library director Carol Cooley told council that number contains a 25 per cent contingency, meaning the project is actually expected to cost about $115.5 million, but the extra money is there in case the project faces issues.

How would it be financed?

The plan includes $87.5 million in borrowing, $46 million from reserve funds collected through property tax increases, $15 million in private fundraising and $4.6 million from the sale of the current Frances Morrison Central Library, which opened in 1966. The borrowing needs to be approved by city council since it would be added to the city’s debt.