The formal process to build a library housing President Barack Obama's presidential records and artifacts began Friday with the formation of a new foundation, launched by top supporters with Obama's blessing, that will develop and build the monument to his legacy. The nonprofit Barack H. Obama Foundation will be led by Marty Nesbitt, a close Obama friend from Chicago, and Julianna Smoot, a former White House social secretary and top official in Obama's re-election campaign. A vigorous competition to host the library is already underway. Hawaii, where Obama was born, and Illinois, his longtime home, have been lobbying the Obamas...