The new Library and Community Center is a far-sighted investment in the quality of life for all residents of Barrington. It is a partnership with the Town, a combination of public support and private donations. The advantage is two-fold: It reduces the burden on taxpayers and gives willing benefactors the opportunity to create a meaningful legacy for future generations.
Private donations of money and gifts-in-kind will help offset the cost of the project. Barrington Library Trustees together with the Building Committee have been and continue to work with the SMP architect firm to identify ways to reduce costs while maintaining quality. The bond expected to be presented to voters in March 2020 has not been finalized as changes in material and labor costs as well as interest rates will be different from the 2019 bond. The bond, however, will include site development, landscaping, furnishings, equipment, fees, and the usual contingency funds (previously at 10%) for unanticipated costs that may arise.
For 2019 the Town Treasurer had estimated that a 15-year bond at a 3.2% interest rate would be just over $0.36 per thousand, or about $107 on a $300,000 property (see FAQ for more information). The amount will diminish over the period of the bond.
Donations are tax-deductible and may be pledged and paid with cash, check, credit or debit card, stock, paid-up insurance or retirement accounts. Contributions may be given as a tribute or memorial gift, and all donors will be recognized in a Book of Benefactors. Donors of $2,500 and up will be recognized on a prominent display in the new building. Donors of $5,000 and more also may choose to sponsor an area or item in the new Library and will be acknowledged with appropriate signage at the room or item they have selected.
The private fundraising program is being conducted under the auspices of the Barrington Library Foundation, a 501(c)(3) nonprofit which was established in 2016 to accept and manage funds “for the construction of the new Library and Community Center and to increase community awareness to support, enhance and expand Library services and programs.”