Theodore Roosevelt Library Taps $53M State Loan to Bridge Donation Payment Gap

The Theodore Roosevelt Presidential Library Foundation has accessed $53 million from a $70 million Bank of North Dakota line of credit to cover construction costs while awaiting pledged donations according to Michael Achterling and Amy Dalrymple from the North Dakota Monitor. Foundation CEO Ed O’Keefe says they expect to access the full amount by year’s end, as multi-year donation commitments come in while construction expenses hit now. The library has raised $344 million toward a $450 million goal. Construction is about seventy percent complete with exhibits on track for a July 4th, 2026 opening. The state-backed loan must be repaid by June 2027, with the state covering interest costs above 2% up to $5 million. O’Keefe says the line of credit allows construction to continue as donors fulfill their pledged commitments over time.