Friends of the Library President, Jeff Vogt and JPL Director, Barbara Berg gave a presentation and fielded questions from the Assembly's Public Works and Facilities Committee on Monday. The Library is one of ~12 projects seeking funding from the temporary 1% sales tax often referred to as a project fund. The sales tax has the potential to raise $ 8 million a year totaling over $40 million over the five year term and the Assembly will have the final say in which projects go to the ballot in the fall of 2012. KTOO News covered the story, take a listen.
The New Valley Library project is seeking a maximum of $4.7 million to serve as a local match to the State of Alaska Library Construction Matching Grant. To date the Friends of the Library have committed at least $1 million and the Library Endowment, $300,000. Currently the library will pay $200,000 in rent at the Mendenhall Mall in FY13. By 2014, the city will have spent $6.7 Million in 2010 dollars on rent for the mall facility.