From:
The Abbott Library Trustees
P.O. Box 314 – Sunapee, NH 03782
www.abbottlibrary.org
Chair of Trustees: Terri White (603)-526- 2796
The Abbott Library Foundation
P.O. Box 66 – Sunapee, NH 03782
www.abbottlibraryfoundation.org
Chair of Foundation: Mindy Flater (603)-763-1102
Press Release
Sunapee’s Abbott Library Achieves $500,000 Pre-election Goal for New Building
Sunapee, NH- The Capital Campaign for the new Abbott Library building in Sunapee achieved its goal of obtaining $500,000 in pledges toward the new library building before the project is brought to the Town voters on March 13. The pledges are contingent upon a successful vote.
The new library building is to be built on a nearly three acre vacant lot on Route 11 and Sargent Road across from the Safety Services Building. The project is expected to cost $2.7 million and result in an 8,000 square foot single story library building. Funding for the project will come from $400,000 already on hand from previous Capital Campaigns and Town appropriations, $1,325,000 from private contributions, $500,000 of which has already been pledged, and $975,000 from a bank loan to be repaid over 20 years from tax funds. The project and the purchase of the land as well as the bank loan are included in two warrant articles [Articles 2 & 6] on the voting ballot.
The Abbott Library Trustees selected the site and announced plans for the new building in March 2011 and in August announced their goal of raising the first $500,000 in pledges before the Town vote in March 2012.
The Abbott Library Foundation was established in September 2011 as a private, charitable foundation and its first task is to raise funds for the new building. The seven Foundation Board members and the12-person Foundation Advisory Committee have been actively involved in the early fundraising. Foundation Chair, Mindy Flater stated, “I am so pleased that we reached this first goal before the Town vote. It demonstrates that there is considerable support for the project and gives us confidence that we can raise the rest of the required funds. We are particularly pleased to report that pledges and donations of all sizes have been given; ranging from a $100,000 pledge to a gift of $18.30.”
The $500,000 was raised from 36 individuals and businesses personally solicited by the Foundation. An additional $825,000 in private donations is expected to be raised after the Town vote when the Capital Campaign swings into high gear.
Library Trustee Chair Terri Jillson White, who also serves on the Foundation Board said, “We are very encouraged by this early successful fundraising result and by the sentiments we hear expressed at the many meetings we have had with various town groups. We believe the mix of funding, 60% private donations and 40% tax funds, is an equitable balance for the new Town-owned building.”
Additional information on the new Abbott Library building can be found on the Library website; http://www.abbottlibrary.org