Private funding for downtown' library's second phase at 15% - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Report: Private funding for downtown library's second phase at 15 percent

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SAN DIEGO (CNS) - An effort to raise private funds for the new Central Library in the East Village is about 15 percent of the way toward its target for the second phase of construction, according to a report to be delivered to the City Council's Rules Committee Wednesday.

According to the report, $4.8 million of the $32.5 million goal has been pledged.

That's $1.3 million higher than the last fundraising report in March.

In the first phase, $32.4 million of private support was gained, including a $20 million donor who wished not to be named. Private backers have also chipped in $10 million for library operations once it opens.

Additionally, the Centre City Development Corp. -- the city's downtown redevelopment arm -- paid $80 million toward construction, and the state librarian and San Diego Unified School District kicked in $20 million each. A charter school overseen by the district will occupy two floors of the nine-story building.

Naming rights for the library are available for a second potential $20 million donor, while a $10 million would allow a name to be placed on the entrance, foyer and lobby.

Smaller donations will be accepted later to pay for benches, courtyard pavers and similar items.

Phase II of construction is set to begin in January and, with work on schedule, the library is scheduled to open its doors in the summer of 2013.

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