Library Wants To Fund $59 Million In Improvements

The Indianapolis Public Library is asking for City-County Council approval of $59 million in debt to invest in branch upgrades and improvements.  

The Indy Library hopes to remodel spaces and build new branches by borrowing bond issues over the next six years.  CEO Jackie Nytes says the plan would not require a tax increase.  

"By refinancing our older bond issues and reducing the interest rate on them, we free up a little bit of capacity in our debt service tax rate and that is where we are sliding these new bond issues in," explains Nytes.

The library wants to replace four branches, including the ones in Martindale-Brightwood, Glendale, Pike Township and near West Lafayette Road and 38th Street. The plan would also add branches in Lawrence and Perry townships. The money would also be used bring some other branches up to date, Nytes says.

"They’re kind of book stack focused right now and they need to turn more into people places because it's not just about the bookcases anymore," says Nytes.

Branches are increasingly becoming vital community technology hubs.  The library says in the second quarter of 2013 over 6,000 people a week, visited branches to access the internet. 

The improvements are all part of the library’s strategic plan to enhance technology, promote lifelong learning and focus on early childhood literacy. 

The municipal corporations committee of the Indianapolis City-County Council is scheduled to vote on the funding issue Wednesday night and if approved it will move to the full council Nov.10.  The committee unanimously approved the library budget last month.