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Rockford voters approve $5.7M for Krause Memorial Library expansion
J.Davis28 min ago
ROCKFORD, MI - Rockford residents overwhelmingly voted to approve a $5.7 million tax proposal to expand the Krause Memorial Library with a new wing in the general election, according to unofficial Kent County election results. The city's two precincts reported unofficial results around 10 p.m. on Nov. 5, 2024, with 2,390 votes in favor, 64.56%, and 1,312 vote in opposition, 35.44%. General election results are considered unofficial until they are certified. The approved millage request is 1 mill for the city to finance the expansion project through a bond not to exceed $5.7 million, to be paid back over 20 years. The average Rockford homeowner will pay $115 annually – or $2.21 per week, according to the city's website. The estimated millage on the ballot proposal to be levied the first year is 0.9784 mills, with the estimated simple average annual millage rate required to retire the bonds of 1.000 mills, according to the Kent County Clerk's Office website . City leaders estimate the millage will generate $335,000 the first year. The project, at a total cost of $11.7 million, will more than double the size of the Krause Memorial Library, 140 E Bridge St. NE. The city has already raised several million dollars in public and private funds to help fund the project. The library serves the city of Rockford and neighboring communities, which accounts for around 42,000 residents. That number is expected to grow to more than 78,000 by 2040, according to City Manager Thad Beard. Beard said the library is the busiest branch per square foot in the Kent District Library system. "However, the current library is not large enough to meet our growing community's needs." Under the proposal, the existing library space would be transformed into the adult wing. The new wing would include a main entrance hub with seating, an expanded children's room and a larger community room. In partnering with Algoma, Cannon and Courtland townships, the city has obtained an additional $5 million in public and private funds towards the total project cost. A total of $2 million was raised through an ongoing regional capital campaign, and the city also received $1 million from the state and $2 million in grant funds from Kent County, with another $2.5 million in funding requests pending. For the city to retain the $2 million Kent County investment, the project must be completed by the end of 2026. Grand Rapids" daily newsletter.
Read the full article:https://www.mlive.com/politics/2024/11/rockford-voters-approve-57m-for-krause-memorial-library-expansion.html
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