Funding the Renovation
On May 5, 2020, the Town Council approved a $3.85 million budget for this renovation, which contains the same refurbishments to the roof and the interior, as in 2018, but with the upgraded HVAC and electrical systems.
The Library anticipates funding the $3.85 million project through several revenue sources:
- $1.0 million bond authorized by the voters in 2018
- $1.0 to $1.5 related bond from the RI Office of Library and Information Services (OLIS)
- $400,000 grant received from the Champlin Foundation
- $370,000 in donations received from Jamestown donors
- $150,000 in a town capital account designated for the project
- $400,000 - $900,000 from other donors and from grants (Capital Campaign committee has submitted grant requests to three foundations for a total of approximately $950,000).