Museum planners originally submitted a financial plan that showed 54% of the money coming from private funds or approximately $35,000,000.00. As of early October, the media reported $24,000,000.00 raised from what I interpret as private funding. Included in that figure is $11,000,000.00 that will be or is a donation from Caterpillar. As of approximately November 19, the Museum Committee should know whether the Federal Government thru financial dispensing sources is going to contribute a chunk of the still needed $40,000,000.00.
I do not believe neither the State, Federal or Local governments are going to voluntarily make up the difference. Also, the museum will still need to meet operating expenses projected to be approximately $4,000,000.00 a year. At a possible 300,000 visitors a year and at a possible average $10.00 admission fee only adds up to 3 million dollars. Other sources of revenue including memberships and sales of merchandise would unlikely make up the missing $1 million yearly.
A cursory proposal has been made to our County Administrator which at this point I do not wish to comment as details have not been submitted to the board. I do know that the City believes they have already made their contribution valued between $5-8 million. I suggest they may not be willing to do much more but that is up to the Council.
The PBC has been mentioned as a possible vehicle to avoid a referendum. The PBC has also been mentioned as being part of a larger plan to include other sources of funding including, but not exclusively, new schools.
Along the way, there appears to be strong sentiment on the Peoria County Board to build a new 220 bed nursing home replacing the existing structure off Farmington Road. It has been mentioned that this $30,000,000.00 project funding could possibly be secured by a quarter % sales tax hike.
Anyone who knows more than I do about what is going on regarding funding for these projects is welcome to add to, refute, deny or correct any information on this post.
Where I stand personally on these issues have either been stated before or will be clarified when I have more information from respected sources.
For further details I suggest contacting the County Board Chairman, the County Administrator, the Museum Committee Chair, School District #150 or the PBC.
No way is this blog intended to accurately assess what is transpiring or that I am any type of a spokesman for the County. But I will be involved in some of these final decisions.
Keep you posted.