Sunday, April 26, 2009

Interesting Statements From Caterpillar

I received a copy of a letter dated 4/9/09 that reads as follows: "Caterpillar is pleased about the vote to move forward with the Build a Block. We made a commitment in 2002 to support a new regional (note REGIONAL, my comment) museum and we will stay true to this commitment. Caterpillar's funding of this project will be in the near future but will not occur in 2009.

The budgeted cost of the Visitors Center is $41 million. Planning for this project will be modified to reflect our current financial circumstance.

The Caterpillar Foundation has pledged $13.5 million to the museum. We have made the decision to temporarily suspend outright cash payments, however, the Foundation will continue to match payments to the museum from employees and retirees."

This information changes the private funding arrangements. Surely the PRM Committee informed the media of these changes yet I believe I am the only one to bring this forward.

I believe there will be many revelations about the private funding of the museum before the contract is signed giving ownership to Peoria County. As a board member, I will be asking for FULL FINANCIAL DISCLOSURE before any document is signed transferring ownership of the museum to the Peoria County.

You can only speculate as to why this information I am disclosing was not made public. If it was, I apologize.

1 comment:

Cal Skinner said...

You mean made public "before the referendum," right?