COLUMBUS, OH, USA --The RTCO Tool Library,the World's First tool lending library, was started in Columbus, OH in 1976;it makes available over 4,500 tools free of charge to both individuals and non-profit organizations;originally run by the city, the tool library is now operated by Rebuilding Together Central Ohio, a non-profit organization that works to preserve and revitalize homes and communities in Central Ohio, according to the World Record Academy.

A variation of the tool lending library model exists in Atlanta, Georgia. At the Atlanta Community ToolBank, the tools are reserved for use only by nonprofits and other community-based organizations who are performing volunteer and facility maintenance projects. The ToolBank tool inventory is not available to individuals.

A tool library allow patrons to check out or borrow tools, equipment and "how-to" instructional materials, functioning either as a rental shop, with a charge for borrowing the tools, or more commonly free of charge as a form of community sharing. A tool library performs the following main tasks:

• Lending: all kinds of tools for use in volunteer projects, facility maintenance and improvement projects, community improvement events, and special events.
• Advocacy: for the complete and timely return of all borrowed tools, to guarantee the long-term sustainability of available inventory. Staff also seeks compensation for lost tools and tools returned late.
• Maintenance: performing routine maintenance and repairs on all equipment to ensure good condition and to extend the lifespan of the inventory. This function is typically performed by volunteers and community service workers.

Given their increasing popularity and proven history of success, tool libraries and tool banks are now playing a role in the sharing economy and can be found in local public libraries and makerspaces, for instance. There are software platforms for managing tool and other types of lending libraries.

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