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General Discussion / Re: Museum Closing
« on: February 20, 2018, 12:51:53 PM »
Hello Roadmaster:
You are absolutely right that the city did not have to sell the Town Center Building. Why they did is anyone's guess.
I can tell you from running an automotive museum it does not cost $700,000 per year to run. That $700,000 figure was an estimate by the city as to how much they would have to contribute over a 5 year period - another estimate was as high as $1,700,000 the city would have to kick in over 5 years.
Problem is that museum admissions were only $17,000 in 2017 and $23,000 in 2016. Heat, A/C, insurance (cars & building) and other utilities could be easily be $50,000 per year. And that would be before any staffing fees or the rent of $154,000 per year.
I attend the national meetings of the National Assn of Automobile Museums and I don't know of a single auto museum that can survive from museum admission fees alone. You either need a "sugar daddy," a large endowment to fund the losses. I guess the city was not in a position to fund the losses.
Sad to say, but it was a rather poorly structured agreement on a lot of points that allowed this to happen.
You are absolutely right that the city did not have to sell the Town Center Building. Why they did is anyone's guess.
I can tell you from running an automotive museum it does not cost $700,000 per year to run. That $700,000 figure was an estimate by the city as to how much they would have to contribute over a 5 year period - another estimate was as high as $1,700,000 the city would have to kick in over 5 years.
Problem is that museum admissions were only $17,000 in 2017 and $23,000 in 2016. Heat, A/C, insurance (cars & building) and other utilities could be easily be $50,000 per year. And that would be before any staffing fees or the rent of $154,000 per year.
I attend the national meetings of the National Assn of Automobile Museums and I don't know of a single auto museum that can survive from museum admission fees alone. You either need a "sugar daddy," a large endowment to fund the losses. I guess the city was not in a position to fund the losses.
Sad to say, but it was a rather poorly structured agreement on a lot of points that allowed this to happen.