Five years ago Mayor Autry and City of Fresno council members (I was one of those council members)agreed to guarantee the $15 million dollar loan on the Fresno Met's building project. Now, as we all know, City Hall (that means us, City of Fresno taxpayers) unfortunately has to pay millions of dollars over the next few years to make up for the failure by the Fresno Met staff and board members who embarked on a building project they couldn't afford.
The Fresno City Council is trying its best to make lemonade out of lemons by encouraging developers to invest in the surrounding blocks to increase the value of the Met and the property on which it sits. This will be an all but impossible task, particularly in the midst of the current recession. What I am particularly interested in, however, is whether the Met's business plan will enable it to operate without additional subsidy by the City of Fresno.
I would encourage readers to go to the Met's web site (http://www.fresno.met.org/) and review its proposed business plan and budget. It appears that these plans hinge on raising $1.5 million dollars in gifts and $1.5 million dollars in loans by October 1st of this year. This objective will be a challenge in today's financial climate. The Met's budget also contemplates increased attendance, a worthy goal but difficult to achieve.
After handing over $17.5 million dollars to pay for the building additions, city taxpayers should not be asked to support the Met in perpetuity. The question remains whether the Met's plans will enable it to meet the 2012 deadline for beginning a payment plan to the City of Fresno for occupancy of the Museum property.
I would strongly suggest that the City demand that the Met's board of directors include Mr. Randall Cooper, the City of Fresno Director of Parks and Recreation. Mr. Cooper has proved a visionary yet pragmatic individual who would be helpful to their board as well as serving as a direct link to Fresno City Hall--the Met's owner. I would also suggest that the Fresno City Council require a formal report from the Met every six months on its progress toward the 2012 deadline. If adequate progress is not made, the City should consider severing its relationship with the Met.
Coming Soon. . .
1) Fresno County's pension system is a disaster.
2) Chugging along with Fresno's proposed Bus Rapid Transit System.
Comments are welcome. Click on "Comments" below or e-mail me at abriancalhoun@gmail.com.
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