Update Watermark/River Center Project Financing
March 3, 2010
I wanted to provide everyone with an update on the most recent information we have on the Watermark/River Center Project, future home of the Children’s Museum.
River Vision Partners has just received their letter of financial commitment from Calumet County Bank. With this in place, they are now able to proceed with the final phase of financing. It is anticipated that this phase will require approximately eight to ten weeks for completion. Ground Breaking and Construction will begin immediately after the loan closing.
As to the Children’s Museum’s financing, we have received our letter of financial commitment from Calumet County Bank. Part of the commitment is that we must raise an additional million dollars prior to disbursement of funds. With close to 2.4 million raised out of the goal of $4 million, we are confident that we will be able meet and exceed our loan contingency prior to closing.
The Children’s Museum committees continue to work on community outreach, exhibits and programming for the new museum. We have used this time to meet with other renowned children’s museums, which has helped us create even stronger exhibits and programming for the new museum.
If you have any questions please feel free to contact me at gbcmuseum@yahoo.com.
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