Project Budget

LibraryPark is being financed by a public/private partnership between the City of West Hollywood and the nonprofit West Hollywood Library Fund.

While the city is providing the majority of the project budget—through its general fund, parking fund, interest income and bond issuance—business, philanthropic and community leaders are being asked to contribute to the campaign and help raise $10 million in private funds to make LibraryPark a place like no other.

LibraryPark is part of a larger capital improvement project that will honor the City's 25th anniversary. In addition to the new, state-of-the-art library, the crown jewel of the West Hollywood Park Master Plan, the park will acquire 2.5 acres of additional green space and 425 parking spaces will be provided.

Project Component Cost (in millions)

New West Hollywood Library: $17 million

Public Meeting Rooms, CATV Facilities and Friends of the Library Bookstore: $6 million

Parking Structures (400 spaces): $16 million

Parkland and Expanded green space: $8 million

Architectural Design, Project Management and Agency-Utility fees and inspections: $9 million

Land acquisition, furniture, fixtures and equipment: $8 million 

Total: $64 million 

 

Total Project Costs $64 million

Contribution from the City of West Hollywood: $54.0

Amount to be raised from the private sector: $10.0