HARVARD – Harvard Diggins Library plans to ask for voter approval of a referendum to shuffle tax money to pay for building maintenance and operations after a construction bond is paid off.
The library sold a little less than $2 million in construction bonds almost 20 years ago to pay for its new building and that money is set to be paid off in 2019. About $50 comes out of a resident’s property tax bill to go toward the bonds, based on the average home value of $125.000, said City Administrator David Nelson.
Now the library wants to essentially take that money and put it toward its general levy. Several large maintenance projects loom and library officials hope to modernize the space as well.
The Harvard Park District is pursuing a similar request with its $1.9 million swimming pool debt, also set to be paid off in 2019, Nelson said.
This is the best way to get needed funding, because people are used to paying the current tax rate, said Karen Sutera, director of the library.
“A referendum is the best way to get that money that will be least painful for taxpayers,” she said “We aren’t asking for more. We’re simply asking to take the money they are already paying to go toward general operations instead of toward the bond.”
The measure will most likely appear on the April 2017 ballot. If approved, the library wouldn’t receive that revenue until after the bonds are paid off in 2019. A 2015 facilities audit indicates that the building must undergo significant projects within the next five to 10 years, like roof and floor replacements, parking lot repavement and plumbing and emergency alarm system work.
“That is our biggest concern – making sure we have enough funds to maintain,” Sutera said. “We will obviously try to work in some new features as funding permits.”
Crystal Lake Public Library and Algonquin Area Public Library officials are mulling major capital plans as well. Voters will have a chance in November to give opinion on whether the city should borrow $30.1 million to replace the Crystal Lake library. Algonquin library board members recently took the first steps toward a $7.4 million facilities overhaul.
First Ward Alderman Ron Burlingame, who also serves on the library board, said that while he isn’t a heavy user of the library – located in the first ward – himself, he recognizes its inherent value and favors the proposal.
“How could I not support something like that?” he said. “We have very little funds for the maintenance required over the next five, 10, 15 years.”