Feds Balk at Laffey Upgrade
Patriots Point banked on $20 million in federal funding to offset the more than $9 million it borrowed from the state to save its sinking warship Laffey. Now the federal money is off the table, and the clock ticks toward time for the attraction to repay the state loan. Plus, the Laffey’s repairs could incur unanticipated costs. And Patriots Point doesn’t know where it’s going to put the ship when that work is finished.
The state Treasurer’s Office, which made an impassioned plea for the loan funds over the summer, seemed undaunted by the new circumstances. “The loan is due in December 2011, so they have this year and they have next year to secure funding in the federal budget,” said Deputy State Treasurer Scott Malyerck. “If it ends up with nothing in the budget this year, they have next year. Everyone’s still kind of confident we’re on the right track.”
The Patriot’s Point Museum is hard hit by the economy, with its star attraction the carrier Yorktown also in dire need of repairs and under pressure from the USN, as we pointed out the other day. If you’re ever down this way, please be sure and drop in. The nostalgia here is just overwhelming!
Here are links to photos of my own recent foray there: