Bancroft town council is expected to receive a progress update on North Hastings Inspiration Place at tomorrow’s meeting.
The building, currently under construction, is supposed to house the North Hastings Public Library on the ground floor, and new residential units on the upper floors.
A staff report, available through tomorrow’s meeting agenda, states that the town expects the library to move into the new building by the end of this year.
It also states that there has been a considerable increase in the expected cost to finish the project, as a result of rising costs in the construction industry since the pandemic.
The report projects a potential $1 million deficit which will need to be funded.
A capital campaign is underway and council has stated that the sale of the existing library building will also help offset the additional expense.
The report states the capital campaign’s current account balance is just over $76,000.
Tomorrow’s meeting will be livestreamed on YouTube and members of the public can also attend in-person at council chambers.
