The White County Board of Commissioners is searching out different options to finance the construction of a new county public library.
The commissioners had hoped to rely on a $2 million grant from the federal government, but that option appears to have dried up. Consequently, the board called in Tom Owens, from Raymond James, a financial services company, to assist them.
Owens, during the meeting on October 6, shared with the commissioners different options to obtain funding, with bond financing seeming to be the best option for the county.
The commissioners did not take any action but will assess the information shared and make a decision on the direction they need to take soon.
In total, the county will need to allocate around $5 million to supplement state funding and initiate the project.
Commission Chairman Travis Turner made it clear during the meeting that his support for the library remains unchanged.
SEE ALSO
Government shutdown affecting construction of Cleveland’s new wastewater treatment facility
