Lafayette Community Foundation Proposes to Fund Lafayette Library and Learning Center Operations

Will Help Fund Operating Costs for at Least First Thirty Years of Operations

March 12, 2007, Lafayette, CA: Today, the Lafayette Community Foundation proposed to provide funds to help cover the costs of hours, maintenance, and programs at the new Lafayette Library and Learning Center which is expected to open in the spring of 2009. The Community Foundation estimates that its contribution will be approximately $530,000 for the first full-year of operation and will escalate with inflation subsequently.

In addition to the Foundation’s contribution, the Lafayette Library and Learning Center will also be funded by the approximately $630,000 currently received from the County Library system and the City of Lafayette. Those contributions will not change, except to keep pace with inflation, when the new library opens.

Foundation Chair Anne Grodin made the proposal to the Lafayette City Council at its March 12 meeting. Grodin said, “Designing and raising the funds to construct the Lafayette Library and Learning Center has been a true public-private partnership. The Foundation proposes to take that partnership to the next level by offering to pay for the additional costs of operating the new library for at least thirty years.”

“Our proposal ensures that the community receives the same hours of operation in the new library as we have today. But we do not want to stop there. There will be demand for more operating hours and programming and we will soon launch the next phase of our fundraising campaign, which has raised more than $12 million since inception.”

As part of the proposal, the Foundation will loan $9 million to the Lafayette Redevelopment Agency to help fund construction, which is due to start within the next month. Foundation Treasurer Anne Mitchell noted that “The $9 million is available to make the loan as the Redevelopment Agency needs the funds. The Foundation will use the payments of principal and interest received from the Redevelopment Agency to pay for on-going library operating costs. It will also commit more than $3 million which is currently in its Operations Fund to support the operations of the Lafayette Library and Learning Center starting on opening day.”

The Foundation has taken care to structure its proposal to benefit citizens and the City. Downtown merchants and property owners and the Acalanes Union High School and Lafayette School Districts will be unaffected. Meetings are being held with groups around the community to explain the proposal.

One group key to the Lafayette Library and Learning Center’s future is Friends of Lafayette Library (FLL), the long-time advocate and funder for the Library, and donor of the campaign’s first “angel gift” of $750,000.

Says FLL Board President Linda Peterson, “Our board had an opportunity to hear a draft version of this proposal before its presentation to City Council. Of course, we’re all looking forward to hearing more details, particularly about the terms of the agreements. A majority of the board members voted to endorse exploring next steps in this creative proposal. Our particular commitment is to the collection and supporting our library staff and community via programs, and to finding ways to support more hours –– so we anticipate learning more about the benefits of this proposal in advancing these goals.”

Grodin asked the City Council to conceptually approve the proposal and direct staff to work with the Foundation to draft the necessary legal agreements for adoption by September.

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For Immediate Release

Lafayette Community Foundation Proposes to Fund Lafayette Library and Learning Center Operations