Funding Dispute Threatens Chicago Museum Project
May 3, 2006 at 6:07 AM (PT)
The construction of CHICAGO's new MUSEUM OF BROADCAST COMMUNICATIONS could be imperiled due to a delay in the state of ILLINOIS releasing funds to help pay for it, reports the CHICAGO SUN-TIMES' ROBERT FEDER. PEPPER CONSTRUCTION CO. notified the museum that it will stop working on the building TODAY unless it gets over $3 million in past-due payment for work on the $21 million project; the state had budgeted for the money but has added additional financial conditions, including needing the museum to get a million dollars in bank credit, before releasing the cash.
"If the state doesn't give us what they promised, things will get very messy and very ugly," museum President BRUCE DUMONT told FEDER. "We've reached the point where there's no other alternative. The whole house of cards will fall by their own stupidity in not seeing this through."