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Library board makes bridge loan payment



(Created: Saturday, February 2, 2008 10:05 AM CST) More Local News

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FAIRHOPE, Ala. — The Fairhope Public Library board of trustees made another payment to the city Monday on the loan for construction of the new library building.

“I have a check for $65,000,” said Martin Lanaux, board chairman, at the City Council meeting that night. “It’s a little more than the last one. We’re continuing to work hard on it.”

That payment reduced the bridge loan amount the city obtained to finish construction on the building to approximately $1,302,431, said City Treasurer Nancy Wilson.

The Fairhope Public Library opened its doors Jan. 22, 2007.

Wilson said the building has cost approximately $8.1 million to build and that all bills have been paid.

“The library is an important economic tool for the city,” Mayor Tim Kant said Friday. “Cities are struggling to keep their downtowns alive. The library is an important addition to the economic life of our city that includes our two colleges and hospital. It is vital to our downtown’s future.”

Wilson said the city made an initial pledge of $3 million for construction of the building and also donated the property and continues to service that debt.

The library board raised $3,000,091 from private sources, including the Fairhope Single Tax Corp., and a federal grant contributed another $500,000, she said.

“The goal was for the library to become an important downtown hub and activity center for the community,” said Ilse Krick, library director. “We also have two youth activity staff persons to serve that important part of our community.”

Lanaux said one sign that the library is starting to meet the needs of young people in Fairhope is to watch what happens many afternoons when school lets out.

“You need to watch the kids troop up the street straight for the library,” he said. “They love the study rooms.”









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