We’d purchase the building from MainSource Bank for $75,000. This is less than 20 percent of the appraised value. We consider the difference to be a wonderful gift. We could never purchase land with better visibility and convenience.
The Town of Hanover is sponsoring a $500,000 Community Focus Fund grant to help fund needed improvements to the building. This type of community development grant requires a municipal sponsor. The library is listed as a sub-recipient and is responsible for all future operating fees.
We will secure local funding from private and non-profit sources for furnishings and opening day collections. Local individuals and businesses have already shown great support.
Existing furniture and shelving currently in storage will help reduce opening costs at the new library.
No additional property taxes will be requested for this project.