As a part of conceptual planning, detailed construction cost estimates were prepared. These estimates were used to determine the level of project funding required. The estimated total cost of the library project is approximately $13,400,000.
Financing for the Future Library will include funds from NOLS’ capital reserves ($1,000,000) and, if the November 2018 ballot propositions are approved by voters, tax supported bonds of up to ($12,400,000).
Additional funds received through local fundraising, gifts, and donations will be used to further enhance the basic design.
In November 2018 voters in the Sequim Dungeness Valley area will have the opportunity to approve or reject two ballot propositions, to support construction of a new, larger Sequim Branch Library.
HOW MUCH WILL IT COST?
The estimated total cost of the library project is approximately $13,400,000.
Project funding includes $1,000,000 from NOLS’ reserves.
Proposition No. 2 authorizes issuance of 21-year bonds for up to $12,400,000, and property tax levies to repay those bonds.
Estimated costs per household (in 2020) Based on assessed value of property