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Obama foundation launches presidential library project

Velma Smith sings with one of the students in the library at Leo Catholic High School in Chicago, Illinois February 14, 2013. REUTERS/Jim Yo
Velma Smith sings with one of the students in the library at Leo Catholic High School in Chicago, Illinois February 14, 2013. REUTERS/Jim Yo

WASHINGTON (Reuters) - Supporters of President Barack Obama launched a foundation on Friday that will plan the building of his presidential library.

"The Barack H. Obama Foundation is tasked with planning the development of a Presidential Library that reflects President Obama's values and priorities throughout his career in public service: expanding economic opportunity, inspiring an ethic of American citizenship, and promoting peace, justice, and dignity throughout the world," the foundation said in a statement.

It is not yet known where the library will be built but Hawaii, where Obama was born, and Chicago, his political base, are top contenders.

The foundation said it expected to decide on a site for the project in early 2015, two years before Obama is due to leave office after serving two terms.

(Reporting by Washington Breaking News Team; editing by Gunna Dickson)

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