NEWPORT BEACH : Library Fund Raising Nearly Completed
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Plans for the new Central Library are proceeding on schedule, and the community group raising funds for the project has almost reached its $1.5-million goal.
Earlier this month, the city approved about $6 million in bonds for library construction. The council also completed a land-swap agreement for the new library site on Avocado Avenue.
Officials say that construction on the $14-million library is scheduled to begin June 14 with opening expected in late 1993. The 52,000-square-foot building will occupy about four acres just north of Coast Highway and will feature a number of specialty sections, as well as a public meeting room.
To obtain the property--valued at about $7 million--the city gave the current library site to the Irvine Co., and will lease the new site from the company for $1 a year.
Construction will be financed by the bond sale, state grants, about $1 million from the city’s general funds and $1.5 million raised by the Newport Beach Public Library Foundation.
Foundation co-chairwoman Elizabeth Stahr said nearly $1.4 million has been raised, much of it coming through matching grants from the Harry and Grace Steele Foundation.
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