THOUSAND OAKS : Library Foundation Seeks $50,000 Loan to Open Gift Shop
A nonprofit foundation has asked Thousand Oaks for a $50,000 loan to open a specialty store that would benefit the city library, an official said.
The proposal, which will be reviewed Tuesday by the City Council, includes remodeling a library conference room and using it as a gift shop, said Frances Prince, president of the Thousand Oaks Library Foundation.
The shop would market stationery supplies, such as pencils and paper with the foundation’s logo, as well as T-shirts and cups.
Prince said the store would generate about $20,000 to $100,000 a year to fund the library.
“Our only source of revenues is the rental of videos,” Prince said.
“We have to look for additional sources of revenue.”
Establishing the store is one of two measures aimed at subsidizing the city’s growing library system.
City library officials have also proposed charging non-resident borrowers an annual $55 fee for checking books out of the city’s two libraries.
About 38% of the libraries’ 110,000 borrowers live in Los Angeles and Ventura County communities outside the city, but do not pay taxes to help finance library services, officials said.
The City Council is scheduled to review that proposal May 28.
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