It may be a risk, but Kidzeum President Rachael Thomson says the long-anticipated musuem is worth it.
Springfield mayor Mike Houston recommends the organization receive nearly $700,000 in TIF money to help fund the project. Although the current TIF proposal is $300,000 less than originally requested, she is confident the Tax Increment Funding will go a long way.
The first children’s museum closed it doors on December 31 2001 after it was unable to cover costs. However, the Kidzeum has raised more than $3.5 million and expects to raise even more.
Some aldermen question the viability of the plan as the Kidzeum is a non-profit, and wouldn’t be paying taxes in return for the TIF money. Thomson says the museum expects about 100,000 visitors a year and could provide millions in additional revenue.