In a conversation with my County Administrator, Patrick Urich, this evening I was informed by Mr. Urich that JS Reporter McDonald wrote "The county has the legal authority to raise as much as $40 million in sales taxes, and the $5.5 million difference would go a long way toward helping out with the museum's endowment." Mr. Urich said he told the reporter that $5.5 million would go toward "construction' of the museum building, not the endowment.
This is what I have always interpreted what Mr. Urich was saying when he said the county board had voted to cap the sales tax money at $40 million for the museum building.
The PRM Committee has promised to raise a sufficient endowment anywhere from $14 million as a Committee Chairman publicized, to the $7-11 million as Peoria County Financial Officer Erik Bush told the County Board the museum would need. This money was to come from the private sector, not from more tax dollars.
At last report, the PRM had set aside less than $2 million for the required endowment.
2 comments:
Merle: That was always a concern that the public would pay for the endowment indirectly by funding more of the construction. That would be regrettable if the County Board votes to approve that situation. Thank you for your continued diligence on this issue! :)
Jim Tillhoff
There is no 5 million coming from the state of illinous for musuem, how stupid do think we are. Stupid is is stupid does
Were, illinois, are in the news todays one of states nearest financial collapse
When is peoria going wake up, buhha. Can't tax lint in the people's pocket the only that remains
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