Lee-Whedon’s $5.2 million bond resolution passes, 223-214
MEDINA – The community, in a close vote, approved a bond resolution today allowing the Lee-Whedon Memorial Library to borrow up to $5.2 million for an expansion of the building at 620 West Ave.
The resolution passed, 223-214. The library should be able to break ground on the construction project in mid-2025, said director Kristine Mostyn.
Lee-Whedon will work to complete the engineering drawings and go through the bidding process.
A 4,785-square-foot expansion would go on the back of the current library, which is 11,100 square feet.
The addition will create space for two meeting rooms, two tutoring rooms, a programming room with makerspace, Friends of the Library book sale room, a quiet research room, a teen room and 14 parking spots.
There would also be additional restrooms, a new circulation desk, a new entry portico with automatic sliding doors, about a 10 percent increase in the collection and upgraded technology.
The library already has $795,320 in grants secured and $175,000 in reserves, leaving a $4,229,680 to be financed over 20 years. That would result in a $48 a year increase in taxes for homes valued at $100,000, said Christine Crowley, president and municipal advisor with Fiscal Advisors and Marketing.
That represents the “worst-case scenario,” she said during a meeting last week, because the library is likely to get additional grants and raise money in a capital campaign.
The library is seeking an additional $789,520 grant from the state for library construction. If that is secured, the amount to be financed would be $3,4410,160, lowering the tax impact to an average of $39 for houses at $100,000 in assessed value, Crowley said.
The library also expects it could raise $500,000 in a fundraising or capital campaign. If that is successful, the amount to finance would be $2,940,160 or a $34 impact for property assessed at $100,000.
Lee-Whedon has already acquired and razed two buildings behind the library for the addition. That property and building demolition has already been paid for.