As repositories of knowledge, libraries are a precious resource. In many ways, they are our true town squares. For more than a century, Pittsburgh has been blessed with a particularly rich endowment of local libraries that complement the communities that host them.

Last week, Carnegie Library of Pittsburgh announced plans to move its Downtown branch from The Library Center on Wood Street to a four-story building being refurbished on Smithfield. The move could save the library as much as $400,000 annually. In an era of diminishing budgets, that's an important number. The library expects to sign a 10-year lease.

Herb Elish, the director of Carnegie Library, said the new branch would open in September, after the space has been reworked by the architectural firm of Burt Hill Kosar Rittelman Associates. While the trade-off between the 60,000 square feet of the Wood Street location and the 12,500 feet on Smithfield Street sounds lopsided, it really isn't. There's more to a library than vast stretches of open space.

The design inefficiencies of the current space, a former bank, contributes to its higher cost of operation. The current arrangement on Wood Street was the result of a joint operating agreement between Carnegie Library of Pittsburgh and Point Park University that dates to May 1997. Point Park will continue using the space as a college library and education center. The school may convert some of the space into classrooms and include other university-related functions once the Carnegie has vacated.

Mr. Elish had more good news about the library. The main branch in Oakland will resume its Sunday hours beginning March 14. With the restoration of a portion of the state funding that was cut from the budget last year, the library's outreach programs -- Head Start, day care and sessions for senior citizens -- will also return to previous levels.

With overall funding still down by $1.8 million, Carnegie Library should be praised for maintaining a branch Downtown, one that will make more efficient use of space on Smithfield Street. We look forward to the new library's opening and commend Herb Elish on wise stewardship of limited resources.