The agreement includes an additional $124,000 for materials testing, $50,000 for construction inspection services and $78,750 for civic art.
In 2017, the library was damaged by Hurricane Harvey as wind and rain penetrated the building's exterior, according to city information.
The funding will go toward repairs for the building, including roofing and windows, as well as upgrading the building's heating, ventilation and air conditioning system, and restoring some interior and exterior elements.
The building is located in the Freedmen's Town Historic District and is on the National Register of Historic Places. The Gregory School earned a Texas Historical Marker on Jan. 5.
The work will adhere to the requirements of the Texas Historical Commission and all other agencies with jurisdiction over this restoration project.