Cherry Valley library expansion may start in Aug. (Rockford Register-Star, 6/2/2011)
Excerpt: Construction could begin as soon as August on what leaders hope eventually will be a $4 million expansion of Cherry Valley Library.
Library Director Eve Kirk said there’s no timetable for completing the project, which aims to nearly double the size of the 13,300-square-foot building at 755 E. State St.
The expansion will be done in phases as the district is able to afford it.
“We’re not like the state or the federal government,” Kirk said. “We just can’t go into debt like that.”
The district has about $650,000 in reserves for the expansion project.
Officials don’t intend to issue bonds or levy new taxes to pay for the expansion, Kirk said.
“We could wait until we have collected all the money. That could be years from now, and we are desperately short of space right now,” Kirk said.
The district’s main source of revenue is its property tax levy, which amounts to about 28 cents per $100 of assessed property value.
About 55 percent of voters approved a 6.2-cent increase in the district’s general fund levy in 2006, an increase Kirk said will hope fund extra operating costs following the expansion.
The district has been unable to secure any grants for the project, but not for lack of trying, Kirk said.
Related articles:
Library keeps on truckin'. (8/21/2010)
Catch-22 keeps library expansion plans on hold. (2/2/2010)
No comments:
Post a Comment