Plan Developed for Library Matching Funds

A joint meeting between the Galesburg Public Library’s Finance and Construction Committees allowed the group to review a fundraising plan.

The Library is currently attempting to come up with matching funds for a State grant that would pay for the construction of a new Library.

Currently the Library sits 11th out of 13 possible grant recipients. Should the Library be unable to come up with the funds, they would need to reapply the following year, but they could also improve the position by finding the monies.

25-% of the new Library’s cost would need to be located. The Board of Trustees is allowed to change the scope of the project, but not the square footage of the building.

During yesterday’s meeting, the Library outlined plans to develop a fundraising committee and appoint a fundraising chairperson.

Board member Guy Cahill says that in support of establishing a new committee between the Board and Foundation, the Library already has individuals who have expressed interest.

“Leadership of the two entities would work together to actually go and maybe interview or approach make that approach basically.”

The Library may also consider the issuance of debt – previously something the Library Board thought they were unable to do.

Should the plan be implemented, the Library would dedicate a staff member to assisting with fundraising and administrative efforts for work on the new Library.

The Board will consider the proposal at it’s next meeting in February with a fundraising kick-off anticipated May 1st.

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