/2.

Library representatives, representatives from the Library Development Commission

and the local Friends of the Library Group . The proposal, however, is sound and

has the full support of these ; groups,

Mr. Overend, the Director of the Fraser Valley Regional Library, advises that
grants are available through the Library Development Commission to purchase
shelving and certain office fixtures for the new quarters. It should be
pointed out to Council that, as a member of the Fraser Valley Regional Library,
the City pays a certain share of the total Regional Library Budget. This

is based on population and assessment. We are therefore paying based on a
population of 25,000 and in actual fact we are receiving Library Service based
on one-fifth of what we should be providing for the community. This is through
no fault of the Regional Library System, but the service is quite simply
restricted because of the available Space in our present library building. If
the City provides a larger facility, the Fraser Valley Regional Library System
will stock the library with books and staff it and we will still only be paying

our proportionate share of the total Regional Library Budget.

The cost of leasing is shown on the attached "Detailed Cost" breakdown. Although
this annual lease rental may appear high, Council should consider that the City
would be required to pay utilities, janitor, etc., on any building that the
City was to occupy and also if we were to build a 10,000 square foot library

at this time the cost would, no doubt, be in the neighbourhood of half a million
dollars. To consider a half million dollar investment at a money cost of 10%,
this represents an outlay of $50,000.00 per year, therefore the lease, as a

short term proposition, is not out of line.

For comparison purposes, it could be pointed out that Port Moody presently
occupy 7,500 square feet of library space to serve 12,500 people, Their
present book circulation runs about 6,000 volumes per month. Port Coquitlam

is presently 1,897 square feet for 25,000 people with a present circulation of
approximately 14,000 books per month. It is apparent that our library facility

is inadequate.