RenSquare: Just stick a fork in this project
He will fund raise, He won’t fund raise
Duffy wants a Plan B. He is a critical component of fundraising.
From a D&C article this morning. See May Duffy wrote a letter where he outlines concerns.
Mayor Robert Duffy says those in charge of Renaissance Square must rearrange their work schedule and — instead of pushing ahead with fundraising — develop solid cost projections, a plan for covering operating deficits and an alternative design if money falls short.
Unless that happens, Duffy wrote to his fellow board members, he is not comfortable joining in the $55 million fundraising effort.
“At this late date, it is only with the information described above in hand that we can credibly go to public and private sources for additional funding,” Duffy wrote in a letter dated Aug. 1
According to Mike Power
Most of the funding has been arranged, but officials estimate that they still need $55 million for the theater component — and are hoping as much as $30 million of that will come from the state, said project spokesman Mike Power.
So Duffy is needed to help with fundraising. $30 million dollars is expected to come from the State who has a wee bit of financial crisis of its own.
Stick a fork in it and start over.
[...] Is this project over yet? Yep - the famed Main and Clinton LDC meeting is happening right now. Watch the news for what breaks after the meeting. [...]