Projected Costs and Funding Plan |
| The total cost for the proposed new facility has been estimated at approx. $3.85 million. |
| Construction | $2,500,000 |
| Furnishings | $232,000 |
| Technology and equipment | $127,000 |
| Professional fees/services (includes moving) | $263,000 |
| Contingencies | $443,000 |
| Inflation Adjustment (5%) | $178,000 |
| Campaign/consultant costs | $90,000 |
| Opening day collection (new items for collection) | $17,000 |
| Total | $3,850,000 |
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| Building Fund (cash on hand designated for project) | -$500,000 |
| Total Needed | $3,350,000 |
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| Funding Plan |
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| The first step of the plan calls for raising $300,000 in private support from local individuals, families, businesses, groups and organizations and local and regional foundations. |
| The second step would be to request a 20 year millage of approximately .6 mills, which would provide funds equal to the balance of the capital project. At present, the library operates on less than one mill of voted support. |
| The new bond would cost the average home-owner $30 per year for a $100,000 home ($50,000 taxable value). |
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