NCALL Loan Fund to help finance final stage of library construction.
The Lewes Public Library received $3 million as a bridge loan from the NCALL Loan Fund to help finance the final stage of the library’s construction. Artisans’ Bank and the Bank of Delmarva will be participant lenders.
The loan will help the library complete the building while awaiting receipt of multi-year pledges and completion of fundraising efforts.
Land acquisition and construction costs for the new library total $10.2 million, with the state of Delaware paying about $5.1 million. The remaining amount must be raised through private donations.
Naming opportunities for library sponsors exist, including trees, pavers and benches and areas within the library itself. The new library is scheduled to open April 2016.
For more, call 645-4633 or visit leweslibrary.org or ncall.org.