Hi all,
Yes, this is correct. The County Record office that was based at Marshall Street is now located in Central Library. It's on the ground floor level at Central. Also, at Central are Manchester Local Studies Library (formerly found at City Library on Deansgate), Manchester & Lancashire Family History Society, NW Film Archives and the Ahmed Iqbal Ullah Race Relations Resource Centre. These now all form the partnership called 'Archives +'.
Note: if you want something from retrieved the Archives you must give 48 hours notice.