From the San Diego Union-Tribune:
However, the Jacobses made their latest pledge in the form of a challenge grant, promising to match all gifts up to $10 million in an effort to complete the library’s $75 million fund-raising goal.
Foundation CEO Jay Hill said 12 other families and individuals have donated $1 million or more, while more than 3,000 people have donated $150 or more for commemorative bricks that are being laid in the library entrance plaza.
Most public libraries built in the U.S. today typically involve bond issues and capital improvement financing by states, counties and cities. But Hill said San Diego’s is the only one with such a large proportion of private gifts and no public debt attached.
“This funding model is completely unique,” Hill said.
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Learn More About the San Diego Public Library Central Library Project
Learn More About Dr. Irwin Jacobs (Co-Founder of Qualcomm)