Library to Borrow $6 Million as Part of “Fundraising Strategy”

Library ShelvesOnce again let me express deep, deep skepticism that DeKalb Public Library will actually raise the stated goal of $6 million in private donations to contribute to its expansion costs.

Witness the latest step toward putting it on the taxpayers.

In order to meet a looming June 30 deadline, the DeKalb Public Library will borrow $6 million from a private bank as a part of its fundraising strategy for its planned expansion.

How does that even work? If DKPL can just walk into a bank and get a loan of millions, why is it asking the City of DeKalb for help?

Just as importantly, is there anyone who believes DKPL will honestly commit to fundraising once a bank loan is in hand?

If the library board were serious about raising funds from anybody besides Mr. & Ms. Taxpayer, it would have launched a capital campaign well before last month and passed the hat ’round its own table. As of December it hadn’t identified even one major donor and that’s got to be the case today, else they wouldn’t still be looking at borrowing the entire $6 mil.

I truly believe DKPL’s “fundraising strategy” is to use public money, period. Only the city council can change that course and it can start by applying the brakes Monday.