Birmingham will get a library fit for the 21st century within six years at a cost of £147 million.
The city council last night revealed plans for a split-site scheme - with the lending library in a purpose-built building next to Baskerville House, off Centenary Square, and the city archives and reference section in an extension to Millennium Point at Eastside.
The project will be paid for with a variety of public and private funding, but depends largely on the Department of Culture, Media and Sport approving a request from the council for a £55 million Private Finance initiative.
Council leader Mike Whitby said the proposal, to be rubber-stamped by the cabinet on Monday, would be cheaper and easier to deliver than a planned 400,00 sq ft library at Eastside designed by award-winning architect Lord Rogers.
The Rogers scheme, brought forward by the council's previous Labour administration, was dropped on cost grounds by Coun Whitby when he became leader of the council at the head of a Conservative-Liberal Democrat coalition a year ago.
Coun Whitby said: "In four years of talking about their supposedly grand plans Labour never once bothered to make an application to the Government for funding. The Rogers' plan was never properly costed and there was never any money to deliver it.
"In just over 12 months since taking office we have resolved an impasse, identified sensible funding routes and have a first class plan for a library that the people of Birmingham can justly be proud of."
The two library buildings will cater for very different needs.
The lending section, dubbed the Knowledge Centre, will concentrate on promoting reading with a particular objective to "reach out" to disadvantaged communities.
The archive and reference section, in a 15,000 square metre extension to Millennium Point, will be known as the Heritage Centre and will allow the showcasing of Birmingham's close involvement with the Industrial Revolution.
Coun Whitby insisted that both of the new buildings would be of the highest quality.
However, architects will not be appointed until a funding package is in place.
The council has already spent £1 million since 2001 in preparing the Rogers plan, which has now been scrapped.
Reports to next Monday's cabinet meeting put the cost of refurbishing and extending the existing Central Library, in Paradise Forum, at £124.5 million. However, there would be little likelihood of attracting external funding.
Building a new library at Eastside, but not to the original Rogers concept design, would cost £180 million.
Market research commissioned by the council suggested that most people would prefer lending facilities to be at the heart of the city centre.
Coun Whitby said a journey by foot between the two proposed library sites would take no longer than 15 minutes. The council is planning talks with bus companies about special services.
The cabinet report concludes: "The Library of Birmingham will deliver an unprecedented improvement in the city's library provision, It will be a unique place for knowledge, understanding and innovation through learning, information and culture."
