Capital Campaign Update
It is with deep gratitude and pride that we provide an update on our “Campaign for a 21st Century Library.” The community’s response has been so positive that we are now in the final stage of our fundraising, having secured $5.8 million in public and private funds toward our $6.5 million construction cost. Therefore, we have raised 89% of the campaign goal with $700,000 to go.
As you may recall, the East Moline Public Library began this project in 2019 with 1st phase fundraising and conceptual site design. A new campaign fund at The Moline Foundation was established to accept all gifts of stock and real property. TBK Bank’s in-kind donation of their building valued at $1.5 million was key to our campaign launch.
In the past year, the State of Illinois approved a $2.6 million library construction grant, and we were extremely fortunate to receive a private donation of $1 million from Louis E. Woodward, a former resident of East Moline and library supporter. A wing of the new library will be named in Mr. Woodward’s honor. Through careful stewardship of public funds, the Board of Trustees holds $950,000 with the City of East Moline and is also able to support a $500,000 bond. We have also received confirmation from the City of East Moline that they will be contributing $350,000 towards the project.
Although we originally estimated construction to begin in Q2 of 2019, construction is now planned to begin in Q4 of 2020 and to be finished by Q2 of 2022. (100% of the funding streams must be identified before construction will begin.) We have identified additional foundations to be approached for grants, and other major gifts from individual donors are also anticipated in the months ahead.
If you would like to make a gift today, please see our donate page for opportunities.