On Friday, July 5, the Board of Rose Memorial Library Association approved creating a petition to put a measure on the November 5 ballot that would provide additional funding for the library through a one-time increase of $1,100,000. The increase provides for an ongoing annual operating budget of $1,425,000.00 from the Town of Stony Point. The requested amount was finalized after months of consultation with financial advisors, architects and engineers.
The $1.1 million request is 25.5% less than the amount the Library approached residents of Stony Point with in 2022. If approved by voters, the additional funding would be used for constructing and operating a new, larger library facility at 79 East Main Street in Stony Point; rental and moving during the construction period; debt service; and proper operation of the Town’s new library through at least 2034. “We have and will continue to approach this project with incredible care, thoughtfulness and attention to detail,” said Alice Meacham, Director of Rose Memorial Library. “The funding request that has been decided upon achieves the Board’s desire to be exceedingly financially responsible, while still creating the library and gathering place the residents of Stony Point both need and deserve.”
The new, fully ADA-accessible library facility would include: a dedicated safe, supervised space for tweens and teens; an up-to-date meeting room available for use by local community groups; outdoor learning spaces; a local history archive; an early literacy space for children 0-6 and their families; quiet study rooms for remote work, tutoring sessions, study groups, and small meetings; an experiential learning studio for art, cooking, and STEM program.
When broken down, the funding request for 2025 is $0.292 total per $1,000 of full market home value for homestead parcels. Homestead homes with the full market values below, would pay the following for the library beginning in 2025 (based on current assessed values & rates)
- $100,000 = $28.43 annually or 54 ¢ a week
- $200,000 = $56.85 annually or $1.09 a week
- $300,000 = $85.28 annually or $1.64 a week
- $400,000 = $113.71 annually or $2.18 a week
- $500,000 = $142.13 annually or $2.73 a week
- $600,000 = $170.56 annually or $3.28 a week
- $700,000 = $198.99 annually or $3.82 a week
- $800,000 = $227.41 annually or $4.37 a week
- $900,000 = 255.84 annually or $4.92 a week
- $1,000,000 = $284.27 annually or $5.46 a week
Specific home values can be found via the 2024 Final Assessment Roll on the Town of Stony Point site at https://tinyurl.com/Stony-Point-Assessment-Roll. This funding would be collected through Town of Stony Point taxes. School taxes would not be affected by the project whatsoever.
Construction and operation of the new building is contingent upon funding approved through the public vote in November. A funding referendum will be placed before the Stony Point voters on November 5, 2024.
For more information visit our FAQ page https://www.rosememoriallibrary.org/next-chapter-frequently-asked-questions/
To view conceptual plans and renderings visit https://www.rosememoriallibrary.org/conceptual-plans-and-renderings/
