NEW GLARUS - The New Glarus Public Library received a significant boost for its expansion project earlier this week.
The village board, after extended discussion, Tuesday authorized the village borrow up to $1 million to be put toward the project, as well as to make a $50,000 upfront contribution. Village staff, working with auditors and financial advisors, recommended the amount was the most the village could offer toward the project.
"Hours and hours of work by many dedicated people went into making (Tuesday) night happen," said Maggie Waggoner, who just became director of the library. "It was an amazing end to my third day on the job," she added.
The library board is proposing building a 17,000-square-foot, $2.5 million dollar facility next to the North American Swiss Center, near Wisconsin 39 and Duerst Road. Proposed funding of the facility consists of $1.25 million in fundraising over a 5-year period as well as requested contributions from the village and Town of New Glarus and grant funding.
The village board put a contingency on its debt authorization. The library board must have $500,000 in fundraising pledges in hand before the village can proceed with the debt process. Waggoner said the library's capital planning campaign is in already in full swing.
The $50,000 cash contribution comes from the village reserve funds and a sinking fund established for the library in 2011.
A motion to take the issue to a non-binding referendum failed, according to Nic Owen, village administrator. Also, a suggestion by one trustee to downsize the new library facility was discussed but never came to a motion.
The village board, after extended discussion, Tuesday authorized the village borrow up to $1 million to be put toward the project, as well as to make a $50,000 upfront contribution. Village staff, working with auditors and financial advisors, recommended the amount was the most the village could offer toward the project.
"Hours and hours of work by many dedicated people went into making (Tuesday) night happen," said Maggie Waggoner, who just became director of the library. "It was an amazing end to my third day on the job," she added.
The library board is proposing building a 17,000-square-foot, $2.5 million dollar facility next to the North American Swiss Center, near Wisconsin 39 and Duerst Road. Proposed funding of the facility consists of $1.25 million in fundraising over a 5-year period as well as requested contributions from the village and Town of New Glarus and grant funding.
The village board put a contingency on its debt authorization. The library board must have $500,000 in fundraising pledges in hand before the village can proceed with the debt process. Waggoner said the library's capital planning campaign is in already in full swing.
The $50,000 cash contribution comes from the village reserve funds and a sinking fund established for the library in 2011.
A motion to take the issue to a non-binding referendum failed, according to Nic Owen, village administrator. Also, a suggestion by one trustee to downsize the new library facility was discussed but never came to a motion.