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Article: LIBRARY SYSTEM LEASE TWICE WHAT HQ COST.(FRONT)
- Article from:
- The Capital Times
- Article date:
- December 16, 2002
- Author:
CopyrightCOPYRIGHT 2002 Capital Newspapers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Pat Schneider The Capital Times
A regional library system is leasing a new materials delivery headquarters on Madison's south side for twice what it cost to build.
The South Central Library System will pay $158,362 a year for use of the 15,000-square-foot facility, director Peter Hamon said. That adds up to some $1.9 million over the term of the system's 12-year lease on the property.
The owners, Delta Storage, said the building was constructed for $750,000 to $800,000 including land costs.
Hamon said the library system has shied away from building a facility because of an unwillingness to take on debt, given an uncertain ...