New library funding
The cost of the project is $28.3 million. Increases to two local taxes will help pay for the library (along with a new fire station in southwest Champaign and annual street maintenance).
On January 1, 2005, local home-rule sales tax was increased to 1.25 percent from the previous 1 percent and 2.5 percent was added to the telecommunications tax on all types of phones. In everyday terms, the sales tax change adds 25 cents to the cost of a $100 purchase; the phone tax adds about $1 a month to the cost of phone service.
Library Foundation campaign
The Champaign Public Library Foundation lead a campaign to raise $3 million in private gifts for the project. On March 31, 2007, they announced that they had successfully reached that goal.
Through their generous gifts, these individuals and organizations provided for more than 10 percent of the cost of the new library project.
The first real home of the Champaign Public Library was made possible by local philanthropists, just like the newest one.