HOULTON – An early Christmas gift from Katahdin Trust Co. has pushed the Houlton Community Arts Center Council closer to its goal of raising $2.5 million in private funding to establish a new arts center.

Members of the council announced late last week that the bank, which has 14 branches throughout Aroostook County, had donated $30,000 to the establishment. The council is working to raise half of the $5 million that is needed to create the arts center through private matching funds over 24 months.

Two years ago, officials with the Houlton High School music department debuted a proposal for a fine arts wing at the school. The council, which is recognized by the Internal Revenue Service as a nonprofit, charitable organization, was created to raise private funding for the project.

The other half of the money for the establishment of the arts center will come from a $5 million bond proposal approved by voters in SAD 29 on Election Day. Half of that will go for the arts center, while the remaining $2.5 million will pay for renovations at the high school.

Jon Prescott, president and CEO of Katahdin Trust Co., said in a written statement that the financial institution recognizes “the significant contribution that the arts and cultural programs have in the overall development of our communities,” adding that the bank was pleased to support the establishment of the arts center.

Joe Fagnant, president of the arts center council, said the bank’s support was “a major boost to this project.”

“This gift will lead us through these next several months of fundraising,” he added.

Superintendent Steve Fitzpatrick said the bond will not be issued until gifts and written pledges of $2.5 million have been made toward the private half of the funding of the new center.

Taxes in the district will not increase now that the bond has passed. Funds allocated for annual renovations at the high school will pay the annual interest and principle on the bond.

Approximately $500,000 of the necessary $2.5 million in private funding has been raised by the council thus far.

Jen Lynds may be reached at jlbdn@ainop.com or 532-9257.