The Powell Library is free to stay put for the next century.

Last week, the Powell City Council approved a new 99-year lease for the library, which sits on a piece of city-owned property at the corners of Third and Clark streets.

The prior lease — which was signed by the then-Town of Powell and the since-disbanded Powell Library Club in 1935 — was set to run through Feb. 1, 2034. However, Powell Library leaders requested an extension amid their efforts to renovate and expand the facility. The library board is seeking $10 million from the Wyoming Library Multi-Purpose Community Facility Program and needed a long-term lease as part of its grant application. Stiff competition is expected, as only $12 million is available in the program and all of the state’s libraries are eligible.

Library boosters have long argued that the Powell community needs a bigger and better facility, and they explored the possibility of building new at another location. However, they concluded it’s more financially feasible to renovate the existing building and continue using the convenient, downtown location.

The Park County government owns the library and operates the facility; commissioners signed off on the lease extension earlier this month.

When Powell officials leased the property to the library in 1935, they charged $1, which is the equivalent of about $22.50 today. However, the council offered the recent renewal for free.

—By CJ Baker