FOUNDATION SEEKS SOME OF CITY'S TOURISM TAX REVENUE

The Colonial Cape Girardeau Foundation needs city tax money just to keep afloat a plan to turn a former Catholic seminary into a museum and cultural center.

"We just have a crisis here and we need to deal with it," said Mary Robertson, foundation board chairman.

The foundation needs money to pay for the riverfront property, which it purchased in April with the aid of a $600,000 short-term loan from the seller, the Provincial Administration of Vincentian Fathers of St. Louis.

It wants the city to use motel and restaurant tax money from the Convention and Tourism Fund to help finance historic attractions downtown. It is envisioned the tax money would aid the foundation's project as well as the Glenn House and the Cape River Heritage Museum.

Foundation officials want the City Council to appoint a board of governors to allocate the money.

The board also would review projected plans for the seminary project and allocate funding on a step-by-step basis, officials said in a four-page written proposal delivered to council members Monday.

The plan calls for the city to match the private donations to the foundation dollar for dollar.

Foundation officials said their organization has raised $310,000 in private funds so far. They want the city to match that amount from motel and restaurant taxes.

The City Council will discuss the plan when it meets Dec. 4.

Robertson said the foundation needs to pay off part of its loan by January.

"The Vincentians are concerned about our inability to obtain bank financing and have indicated to us that a significant payment would be necessary before our loan agreement would be extended," the foundation explained in its proposal.

The foundation needs $250,000 to pay down the principal on the note. At that point, foundation officials hope to get the Vincentians to commit to a longer-term financial arrangement.

It is uncertain how much money the foundation might receive in private funds annually.

In its proposal, the foundation said it expects to hire a fund-raiser and conduct a major fund drive next year.

Robertson said a tax base could make it easier for the foundation to obtain bank financing.

Councilman Tom Neumeyer supports historic preservation. But he said Tuesday the council will have to carefully study the issue. "We are not going to just rush into it and rubber stamp something."

John Richbourg, city finance director, said that most of the motel and restaurant tax money is already committed to Osage and Shawnee park projects and retiring bonds for the Show Me Center. This year's budget also includes money to construct new offices for the Convention and Visitors Bureau.

Assuming 5 percent growth in the taxes this fiscal year, only about $15,000 out of the estimated $893,000 total in motel and restaurant tax revenue would be available for other uses, Richbourg said.

"There is no $100,000 a year extra cash flow," he said.

Lynette Shirrell, president of the local historical society, said her group hasn't seen the foundation's plan.

But she said, "If they want tax dollars, we want tax dollars."

The historical society owns the Glenn House, which is regularly open for tours.

Shirrell said both the historical association and the River Heritage Museum operate on meager budgets. The museum is housed in the city's old fire station.