Press release dated November 3rd 2003.

On August 19, 2003, the Business Plan for the proposed operating Stuhr Museum Railroad was presented in an open meeting to the Stuhr Museum Operating Board. This Business Plan was a direct result of an official request by the Grand Island City Council and Stuhr Museum. This request was a by-product of discussions that had occurred while Stuhr Museum was investigating the feasibility of a possible bond issue to fund the capital expenditures for an operating train.

The business plan was assembled and presented by Shonsey & Associates who gathered the information necessary to write the plan from a number of local and national experts. The result of this year-long process is a densely detailed map of not only how much this proposed operating train would cost over the next 20 years, but how it would be assembled, how it would be maintained, and risks involved in pursing a project of this magnitude.

The financial section of the business plan presents a possible scenario that includes initial capital expenditures funded by a $4.9 million bond issue, coupled with two separate 4 year-long endowment campaigns conducted by the Stuhr Museum Foundation that would have to raise an additional $4 million. This plan also mandates an annual contribution of $220,000 from entities separate from the Museum and its Foundation. This $220,000 annual contribution is needed because initially, the endowment will not be able to provide sufficient funds needed to operate the train.

Given the current sluggish economic climate, and its rippling effects on tight state and local budgets and personal income, coupled with the current schedule of other regional non-profit capital campaigns, the Stuhr Museum Operating Board feels that it would not be fiscally responsible to take on a project of such magnitude at this time. However, if the economic climate improves and donor interest changes, the plan is detailed enough that it can be implemented with a minimal amount of adjustments for inflation in the future.

The Business Plan can be viewed at the Edgar and Frances Reynolds Research Center at Stuhr Museum. Business hours for the Reynolds Center are Monday thru Friday
9am – Noon, 1pm – 5pm. If you have further questions, please contact Joe Black, Interim Director at (308) 385-5316.

There are more pictures on the F&CC webpage

Paul

Stuhr Museum
pdalleska@stuhrmuseum.org