The Frisco City Council approved a guaranteed maximum price for construction of the city's new $62 million library.

The price tag includes more than $42 million in construction costs as well as $19.9 million expenses for design fees, moving, surveys and other project-related costs, per a city memo included as part of the March 16 council agenda.

Located inside the former Beal Aerospace building next to the Frisco Discovery Center, the new library will have about 146,000 square feet, more than double the library’s current size inside the George A. Purefoy Municipal Center. About 114,000 square feet will be on the library’s first floor with a second-floor mezzanine and terrace.

The project will be funded through city bonds, according to city documents.

Construction is expected to last 15 months and is set to begin in April. The new library is slated to open late summer 2022.