Proposed $35 Million Library Project Offers "Once in a Generation" Funding Deal
Key Points
- Article 15 proposes a new $35 million library facility
- Project benefits from a $13.5M state grant and $2.5M in private funds
- Estimated taxpayer impact is $10 per month via a 20-year debt exclusion
- Requires a 2/3 majority at Town Meeting and a ballot vote in May
Yarmouth officials are presenting a major proposal in Article 15 for a new $35 million library facility designed to replace the inadequate South and West Yarmouth branches. Town Administrator Robert L. Whritenour characterized the project as a rare opportunity to modernize town services while leveraging significant state and private support.
The financial breakdown for the project includes a $13.5 million state grant, which covers over 40% of the total cost, and $2.5 million in private fundraising. This leaves the local cost at less than $20 million. Whritenour explained that the project would be funded through a 20-year debt exclusion, costing the average taxpayer approximately $10 per month. That's a tremendous amount of money, but we feel with 13.5 million paid for by the state... that brings the overall cost... down to less than 20 million,
he noted.
The proposal comes after more than 20 years of development. To move forward, the project requires a two-thirds majority vote at the April 28 Town Meeting and approval of the debt exclusion at the May 19 annual election. If approved, the town will replace facilities that Whritenour described as woefully inadequate
with a modern, centralized 25,000-square-foot library.