Civil Rights Museum Getting Loan From City
Source: NC Public Radio
The struggling Civil Rights museum in Greensboro will receive a $1.5 million loan from the City. Museum leaders first asked for one and a half million dollars for educational programming earlier this year, than later said they needed the money to keep up with mortgage and loan payments. Members of the city council voted 6-3 Tuesday night and the city will provide half the money in the next 60 days.
“We became a model for this country. You know the Woolworth’s counter is really a symbol and it’s a symbol of the way something was done correctly and I have a hard time turning my back on it right now,” said Councilwoman Nancy Vaughan, who described the facility as a vital part of the City’s history.
Some opponents of the loan called the historical argument ‘emotional’ and said the museum is unsustainable and poorly managed.
“I think we’re rushing into this right now. I think the timing is extremely poor and I think we need to learn from other cities like Birmingham and Memphis. And create best practices instead of just writing a check,” said Councilman Zach Matheny.
Read more: http://wunc.org/post/civil-rights-museum-getting-loan-city
Property taxes in Greensboro are close to the highest tax rates in the state and these sort of investments do not contribute to municipal balanced budgets and tax relief for working people. Now, the City turns to loaning money to connected interests, so favored entities can maintain mortgage and "other" loan payments? It is good to be connected.
Did Detroit start down the road to bankruptcy by writing fats checks like this one to those who cashed the checks before the fall?
How many other cities across this nation will follow suit?