Village Of New Glarus Receives Loan

The Board of Commissioners of Public Lands (BCPL) approved a State Trust Fund Loan totaling $450,000 to the village of New Glarus to finance economic development projects.
The Board approved loans totaling nearly $2.4 million at a recent meeting.  They include: 
· City of Algoma, Kewaunee County/Renovate long-term care facility/$335,764
· City of Marshfield, Marathon and Wood Counties/Finance fairground land purchase/$173,500
· City of Marshfield, Marathon and Wood Counties/ Finance TID #5 economic development program/ $405,000
· Village of New Glarus, Green County/Finance economic development project/$450,000
· Village of West Milwaukee, Milwaukee County/Finance TID #2 development incentive/$1,010,000
The BCPL operates entirely on program revenue, without taxpayer money, and distributes more than 96 cents of every dollar of interest earned on BCPL State Trust Fund investments to Wisconsin’s public schools.  The 2015 earnings of $35.5 million were the largest distribution in the agency’s history and provide the sole source of state funding for K‑12 public school library materials. 
The 2015 library aid received by each public school district is available at: http://bcpl.wisconsin.gov/docview.asp?docid=26522&locid=145.
Established in 1848 by the State Constitution, the BCPL consists of the Secretary of State Doug La Follette, State Treasurer Matt Adamczyk, and Attorney General Brad Schimel.  The BCPL manages the Common School Fund, which was created in Article X of Wisconsin’s Constitution, as a permanent endowment to benefit public education. 
To learn more about the agency, visit http://bcpl.wisconsin.gov.