Library Group Trying for Endowment Fund

A citizens group formed to save the city’s library branch is now seeking donations to start an endowment fund.

Bill Baker, chairman of Friends of the Villa Park Library, said the organization has been successful with a series of fund-raising events.

“Our goal has been to raise about $2,000 a month for the city to use for the library, and we’ve been doing that,” Baker said. “In fact, we’ve raised about $30,000 since we formed last May.”

The city’s branch library was threatened with closure last year during Orange County’s financial crisis. A last-minute agreement saved the branch, which is next to City Hall. Under the city-county agreement, the city pays for keeping the library open on certain days of the week.

For long-term financial security, however, the library needs an endowment fund, Baker said, so the group is setting that as a goal.

“What we’re trying to get are donations of cash, property or securities so that we could establish an endowment of at least $300,000,” Baker said. “If we could get an interest rate of 8% for the endowment, we could have $2,000 a month to give the city.”

The library group will include information about the proposed fund in residential water bills and will continue to have fund-raisers, he said.

Information: Friends of the Villa Park Library, 17855 Santiago Blvd., Villa Park, CA 92667; (714) 998-1500.