Wednesday, September 26, 2012

Wealthy Elite Find It Harder To Fund All Worth-While Projects

The recent mailing from the Peoria PlayHouse Children's Museum Commitee illustrates it difficult to get the wealthy to part with their money.

First published in the Peoria Journal Star on 10/08/04, this project has still only raised 30% of their goal. Evidently, there have been some cancellations of pledges, shades of all the cancelled pledges to the Peoria Riverfront Museum.

On 3/1/2010, JS reporter Catharine Schaidle reported, "About 45% of the goal has been reached, and it's all been done by volunteers, no paid staff, except for one part-time officer." She was quoting Emily Cahill, the campaign's administrative manager, and Julie Balkema, Junior League President..

So today, the fund is 70% short of their original goal of $5.25 million, not 55% as previously been publicized. Of course, it could be that the situation is similar to the PRM where over $11 1/2  million had been spent before a shovel of dirt was turned.


Also interesting would be to know whether Cilco paid their $500.,000 in cash that they pledged before being taken over by Ameren..

Or whether the unions pledge of nearly $500,000 to the PRM was paid in cash and when. This pledge was made on the musuem folks pledge to use all union labor. Shortly after this announcement appeared in the JS, the cost of the project went up almost $10 million.

The biggest problem the wealthy elite have is raising the money once they decide what is best for the rest of us. Good example is Former Peoria Mayor Dave Ransburg quote in the JS that he would raise not only the $10 million short to fund the new museum but that he would raise even more.

If, and that's a big if, Ransburg raised the money, there was no publicity. Just some mentions of trying to get the $5 million Governor Quinn promised from an approaching bankrupt state.

You may recall, if you read my factual blogs on the PRM that funding was to be 2/3 from donations and 1/3 from taxpayers. To my knowledge, it turned out to be the reverse.

Almost all reasonably well thought projects have value. Unfortunately, those doing the shoving, are unrealistic about the communities willingness to support all of them.

Then there is the Peoria Journal Star Editorial Boards (JSEB) that has seldom seen a project presented that they didn't like.

Good luck is what I say quoting Don Axt who tongue-in-cheek suggested that one day the World Series of Baseball would be held in Peoria.

1 comment:

Chef Kevin said...

Well, at least The Playhouse people aren't running to the council wanting taxes raised to fund their project....

Speaking of that, one would think that they should be able to get some of the tax money going to the museum because it wasn't slated to go directly to the museum, correct? Wasn't it something like public building funding tax (or some odd name)?