City updates zoning code, would allow new stand-alone library

October 7, 2009

By Staff

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In a 7-0 vote, the Newcastle City Council voted to exempt building projects funded by publicly approved levies from the city’s floor-area-ratio requirement. As a result, the Newcastle library may be built as a stand-alone structure if the KCLS/Lorig Associates agreement to build a mixed-use building containing a library and apartment units dissolves.The KCLS and developer Lorig entered into an agreement in January, and Tom Fitzsimmons, chief operating officer of Lorig, said his company is having difficulty financing its portion of the project.

“In these times, banks are not lending like they used to,” Fitzsimmons said.

However, he said the project is still moving forward in the timeline that had always been planned.

“At this time we’re still moving forward,” he said.

The library has its funds in place to finance its portion of the project, and the agreement between Lorig and the KCLS will dissolve if the project does not secure funding by June 2010.

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