(CNN) — Former President Joe Biden has decided to build his presidential library in his home state of Delaware, and is set to start a fundraising push to fund the effort soon, according to a senior member of the Joe and Jill Biden Foundation.
The effort is expected to be a heavy lift, as presidential libraries carry hefty price tags totaling into the hundreds of millions of dollars. Biden will start fundraising later than his predecessors and the donor requests come as Democrats continue to grapple with their path forward and where to invest money.
The library will be a key part of efforts to burnish Biden’s legacy. Since leaving the White House, Biden, 82, has spent much of his post-presidency in Delaware but has only given a few public speeches.
In May, he began treatment for an “aggressive form” of prostate cancer that metastasized to his bones.
Biden’s team envisions constructing an “immersive museum” to recap his legacy and wants the library to become “a hub for leadership, service, and civic engagement.
“The project will serve as a vibrant and lasting space where history, learning, and civic leadership come together, inspiring future generations to lead with purpose, serve their communities, and strengthen our nation,” the senior member said.
The foundation recently approved a 13-member board of governance comprised of close allies and former administration officials. Rufus Gifford, a longtime Democratic fundraiser who served in the Biden and Obama administrations, will serve as board chair. Other notable members include former Secretary of State Antony Blinken, former Delaware Gov. Jack Markell, and Steve Ricchetti, former counselor to Biden.
Biden’s team has yet to place a price tag on the library, but one source familiar with the matter said it’s expected to hit several hundred million dollars. The library is expected to be much smaller in scale than the sprawling campus that will house former President Barack Obama’s library, which had set a $1.6 billion fundraising goal.
President Donald Trump’s inaugural committee collected a staggering $239 million for those festivities, and a person close to Trump’s fundraising previously indicated that excess donations are expected to be directed toward Trump’s presidential library, which he has begun to collect sums for. For instance, the terms of a defamation settlement that Trump reached late last year with ABC News directed $15 million to a “presidential foundation and museum.”
But fundraising for Biden’s library could be a difficult task. Some donors previously expressed hesitation to CNN about giving money to the effort over frustration with the former president’s handling of the end of his presidency and concern of becoming targets for Trump.
Biden’s team has visited or met with officials from other presidential libraries and held conversations with local leaders in Delaware about possible partnerships as part of its planning efforts.
The exact location of the library hasn’t been decided. After leaving the vice presidency, Biden worked with the University of Delaware to set up the Biden Institute and many of his records from his senate career are housed at the university.