Madison, WI Header
File #: 74462    Version: 1 Name:
Type: Miscellaneous Status: Approved
File created: 10/26/2022 In control: MADISON PUBLIC LIBRARY BOARD
On agenda: Final action: 11/3/2022
Enactment date: Enactment #:
Title: Authorizing a request supporting $10.5 million in General Obligation borrowing and $4.5 million in private contributions for the Reindahl Imagination Center as proposed in the 2023 Executive Capital Budget.
Attachments: 1. Reindahl fundraising request.pdf

Fiscal Note

The 2023 Executive Capital Budget includes $10.5 million in General Obligation borrowing and $4.5 million in private contributions for the Reindahl Imagination Center.

Title

Authorizing a request supporting $10.5 million in General Obligation borrowing and $4.5 million in private contributions for the Reindahl Imagination Center as proposed in the 2023 Executive Capital Budget.

Body

WHEREAS, the total project budget for the Reindahl Imagination Center is $15.0 million with $10.5 million from General Obligation borrowing and $4.5 million from private fundraising; and

 

WHEREAS, the Madison Public Library Foundation has committed to capital campaign fundraising for Reindahl Imagination Center in the amount of $4.5 million in proceeds to Madison Public Library; and

 

WHEREAS, approval of this authorization formalizes a request from Madison Public Library to Madison Public Library Foundation to proceed with the capital campaign fundraising of $4.5 million in proceeds to Madison Public Library;

 

NOW THEREFORE BE IT RESOLVED that the Madison Public Library Board hereby supports the $10.5 million in General Obligation borrowing and $4.5 million of private donations as proposed in the 2023 Executive Capital Budget.