UPDATED Tuesday, May 4, 2010 --- 10:15 p.m.

It's a done deal. The city of Madison will rebuild on central library's existing site.

In an 18-to-1 vote Tuesday night Madison's city council overwhelmingly approved plans to rebuild the city's central library on the existing site.

This comes just a few months after the original plans to build on a new site fell apart when the city and the construction company they were working with couldn't come to terms.

The city will now start looking for an architectural firm to complete the project.

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UPDATED Monday, April 5, 2010---9:20 p.m.
By:Barclay Pollak

Ever since the deal between Fiore/Irgens (the group originally tasked with building a new central library) and the city fell through, the Mayor has been pushing to renovate the existing structure.

Monday, the library's board agreed -- adding momentum to the possibility.

Mayor Dave Cieslewicz took the mic first. He talked about the cost of the proposed renovation and the benefits of acting now instead of later.

The Mayor says right now construction costs are low but doesn't know if they will be a year or two from now.

He also says the money is there but might not be in the next budget cycle.

"Delay is deadly. Delay means that means we'll push this back a year or two...the money is already in the budget we'll have to go refight for that money. "

Not everyone at the meeting agreed with the Mayor. Some said waiting is just what needs to happen.

Not forcing this project through.

Troy Thiel a member of Madison's Downtown Coordinating Committee says, " We can wait and I am sure that the library staff and I must admit they won't talk about it with me would much rather wait a couple years and have what they really need than do a slap dab rehab."

Others wanted the board to think about how this project would impact the rest of the downtown area and urged the board to find a way to build a new Library on West Washington...the site of the original plan.

Rosemary Lee says a member of Madison's Downtown Coordinating Committee says, " That's the vision that we want to see on West Washington. That's the vision that would make downtown Madison a much more exciting place, a more sustainable place and with all of these attributes to simply say no and we're moving on would be a major mistake. "

The board's move Monday doesn't secure the renovation. The full city council still has to weigh in on the issue.

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UPDATED Thursday, March 18, 2010--- 9:30 p.m.

After meeting for more than an hour behind closed doors the Mayor told members of the media that the two sides couldn't come to terms.

That means there won't be a central library development...but the existing building will get re-tooled.

" This project. This full development project of the block will allow us to create new property tax revenues."

Back in August it looked like the city would benefit from not just reconstructing the city's central library but from developing the area around it.

Thursday those hopes faded.

Mayor Dave Cieslewicz says, " Unfortunately we haven't been able to come to an agreement. "

During a press conference the Mayor along with Fiore Vice President William Kunkler outlined what went wrong.

The city designated $37-million for the project. Fiore/Irgens said they needed more.

After weighing all the options...the two sides decided it was time to part ways.

William Kunkler says, " This was an incredibly complicated project and I think it was a challenge for sure. But I am not putting this at the feet of the city. "

According to the Mayor the rebuild could come in under budget. As for the relationship between the city and the developer...they'll have to get a long because they'll still be neighbors.

Mayor Cieslewicz says, " We're going to build a very large fence."

Kunkler says, " We've been neighbors with the library for a long time so I don't anticipate that being anything but an improvement."

The rebuild is now a public works project. So the city's next steps will be to find an architect, engineer and construction company to complete the project.

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UPDATED Thursday, March 18, 2010 ----- 5:40 p.m.

There won't be a new central library development downtown...this comes after talks between the city and the developer broke down this afternoon.

Earlier this week it looked like there might be a chance that the city and Fiore would come to terms.

But after meeting Thursday afternoon for more than hour the two sides parted ways.

At the heart of this issue...money. The city had a budget of about $37 million and Fiore said they needed more.

That doesn't mean the city won't get a new library. According to Mayor Dave Cieslewicz the city is going re-build on the existing site.

In the long run the city could end up saving some cash.

Mayor Cieslewicz says, " Our hope is that we can bring this in for several million dollars less in terms of upfront costs than the other project. And our hope is that we can bring it in at about the same time frame."

Since the city decided not to go with Fiore's plan they won't have to pay anything.

Fiore owns the property next to the library. So no matter what the two sides will have to get along because they'll be neighbors.

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UPDATED Thursday, March 18, 2010 --- 5:05 p.m.

There will be no new library in downtown Madison.

Late Thursday afternoon, a meeting between the mayor's office and the construction company Fiore ended with both sides saying the deal will not happen.

The two sides could not come to a financial agreement, so there will be no new library building. Instead, the city will take over the project and will rehab the existing property.

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UPDATED Wednesday, November 11, 2009 --- 10:45 p.m.

In a 17-to-3 vote Wednesday night, Madison's City Council voted to set aside $16 million for a possible Edgewater Hotel project.

This is just one of the many hurdles project developers had to clear. There are still several other committees that must approve the project before it is a done deal.

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UPDATED Wednesday, November 11, 2009 --- 1:27 a.m.

Information from the Mayor's Office:

The Council voted to go ahead with the Central Library. It will be the Fiore proposal. That proposal consists of a new Central Library at the corner of West Washington and Henry St. The cost is $17 million in the capital budget, plus $6 million in New Markets Tax Credits, $4 million from sale of the existing facility and $10 million in private fundraising.

The Council will meet again tonight at 5:30 p.m. to finish the capital budget and consider the mayor's proposed $239.4 million operating budget.

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Posted Tuesday, November 10, 2009 --- 11:00 p.m.

About an hour and half before Tuesday night's city council meeting started, supporters of both the Edgewater Hotel renovation and the new Central Library plan rallied.

Scott Vaughn represents some of the construction unions in the area and he says, "We feel these are good projects. Both for the library and the Edgewater...and we are facing record unemployment. Greater unemployment than we've ever seen in our life. Some of our locals have in excess of 30% of their members out of work at this time."

Inside the City County Building, Mayor Dave along with some youngsters who supported a new Central Library spoke. Mayor Dave says, " We have been on this journey, on this road to a new central library for a decade. Literally almost 10-years and tonight I believe that we will get it done."

Once the meeting started those opposed to the projects got a chance to speak. But there weren't many of them. Peter Ostlind says, " So it's important to get the proposal...the building proposal right first and then move on to the funding and the jobs. And currently it's not the right proposal and this is not the right time to be approving TIF funds for that project."

Those in favor say now is the right time.

"Both of the buildings are buildings we'd be proud of in Madison. If we build them we're going to feel good about them."

Before the meeting NBC 15 spoke with Mayor Dave. He says if the library jumps this final hurdle Tuesday night then it is a done deal: We will have a new central library. The Edgewater is a different story. It is still in the early stages. If it fails Mayor Dave says the project is probably done. He fears investors will pull out their money. If a decision isn't reached Tuesday night. There should be one by Thursday at the latest.