PHOTO: ROSS GIBLIN/STUFF Wellington Central Library closed on March 19 after an engineer’s report revealed the building would be at significant risk in a large quake.
The closure of Wellington’s Central Library looks set to cost the city more than $10 million in its first year, plunging Wellington City Council further into debt.
While $4.5m of the estimated cost accounts for operational expenditure, the city is also set to haemorrhage another $6m in capital expenditure.
The council’s city strategy committee will consider the cost of the closure at a meeting on Thursday.
Recommendations in council documents state there should be no additional rates for the 2019/20 financial year as a result of the unexpected expenditure, although rates funding would be a possibility for the following financial year.
READ MORE VIA STUFF