What Will the Project Cost and How Will it be Financed?
Question & Answer, Week of February 8
What Will the Project Cost and How Will it be Financed? A fundraising campaign has begun and to date we have raised $621.991. We are also applying for grants which will defray some of the costs. There will be a vote on a bond issue on March 3, 2015 at the Moffat Library temporary location. The Library will be seeking to borrow up to $6,922,000. Our financial advisors have indicated that on an average house with a fair market value of $250,000-$300,000, the yearly cost will be $55-$80 ($0.15 -$0.22 per day) or $2.00 per week, the cost of a cup of coffee. Any amounts we are able to raise will reduce the final amount we actually need to borrow. The total cost for the project is expected to be $7,422,000.
What Will the Project Cost and How Will it be Financed?
A fundraising campaign has begun and to date we have raised $621.991. We are also applying for grants which will defray some of the costs. There will be a vote on a bond issue on March 3, 2015 at the Moffat Library temporary location. The Library will be seeking to borrow up to $6,922,000. Our financial advisors have indicated that on an average house with a fair market value of $250,000-$300,000, the yearly cost will be $55-$80 ($0.15 -$0.22 per day) or $2.00 per week, the cost of a cup of coffee. Any amounts we are able to raise will reduce the final amount we actually need to borrow. The total cost for the project is expected to be $7,422,000.
