At the time of the $640,000 (JS, 2/13/08) promotion of the sales tax referendum by Lakeview Museum, contributions and grants were expected to total $42.5 million. That forecast has missed by a mile. Peoria County Administrator Urich said "to be safe" the Endowment Fund should be $12 million. At last accounting to all board members, the Endowment stood at a maximum of $3.6 million again, missing by a mile.
As I originally reported, expect approximately $5.3+ million of the facility tax handed over to the museum to use as they chose. The PRM is on record as saying they will use that $5+ million to help fund the Endowment.
Originally, the public was told the museum needed only public facility sales tax. Now, it's going to be "backstopped" with general sales tax revenue as is the new BelWood. Belwood, in 2009, collected over $3,200,000 in property taxes and replacement costs have risen to around $54 million depending on location, approval by the County Board, by the State, etc.
Opposition on the board to the rising cost of the BelWood Nursing home has risen from my one vote a year ago to 5 votes as our last meeting. The public should also be questioning the need, as one board member said, of a "Taj Mahal" for 165 Medicaid residents and 57 Medicare and Private pay residents.
All Democrats and at least one Republican claim we need this new facility as a "safety net" for the poor.
Hm.
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