Communities need to balance the needs of all their taxpayers, and often there are other buildings and capital needs which will jump the line ahead of a new public library. While we wait for the right time we must continue to make the current space workable and also utilize it to the best of our abilities. This often means shelling out money to make improvements.
Posts Tagged ‘capital investment’
Your library is very likely somewhere in the process of conceiving, funding, planning, constructing, or wrapping up a capital project or a large capital program. If you’re wrapping up, you’re probably also dreaming of the next round or series of improvements to at least some buildings.
This pattern describes the capital investment life cycle for libraries. While this cycle occurs with other public facilities, including city halls and community centers, it is perhaps more pronounced with regard to libraries because of fundamental changes occurring in how people use libraries. Libraries across the country are—to use a current term—transforming. Yesterday’s library is fundamentally different from today’s twenty-first-century library. Much of this change is fueled by rapid evolutions in technology, which influence how people access and share information. Increasing digital collections creates the opportunity to rethink spaces once devoted to periodicals and books. Libraries across the country are finding room for more community gathering spaces, study areas, and media centers. Economic and cultural changes are also contributing to the transformation of libraries. During the Great Recession and in this time of a growing economic gap, libraries are playing important roles in skill development, job searching, career advancement, and support for small businesses.