FORT WAYNE, Ind. (WOWO): Fort Wayne’s proposed “North IV” annexation will cost the Allen County Public Library over three-quarters-of-a-million dollars.

The Library’s board of trustees had a meeting Thursday about the impact of both that annexation and the recent recommendation of an arena in the downtown area. The News-Sentinel reports that Director Greta Southard is “very concerned” about the annexation, wihch stands to cost the library system $773,000 in property tax revenue.

The problem’s made worse by statewide property tax caps, which the board learned has cost the library system $2.69-million this year and $16.4-million since 2010.

The City Council’s expected to make one of the first key votes on the annexation next month.