NEW PLAN FOR RIVER CAMPUS MAKES SENSE

Cape Girardeau residents will have an opportunity to share their views on the proposed River Campus. The city is having a public forum at 6 p.m. Monday at the Osage Community Centre. The River Campus, as most city residents already know, is Southeast Missouri State University's plan to convert the former St. Vincent's Seminary on Morgan Oak overlooking the Mississippi River into a campus for the visual and performing arts.

In the wake of the Nov. 3 election, when city voters approved an increase in the hotel-motel tax but fell short of the fourth-sevenths majority needed for a bond issue, another funding mechanism has presented itself. The university may ask the state's Health and Educational Facilities Authority to issue the bonds, which would be paid off using revenue from the city's hotel-motel tax.

This idea and others will be the topics of discussion at Monday's forum. It is important for city officials to hear what residents think of this idea. More than that, there may be other ideas that deserve just as much consideration that could be presented at the forum.

University and city officials say using the state authority to issue the bonds has merit. Indeed, there may be advantages over the issuance of city bonds, had voters approved. For one thing, the city wouldn't be liable for any future shortfall in revenue generated by the hotel-motel tax to pay off bonds issued by the authority. No such shortfall is expected, but this plan would provide addition assurances that city taxpayers wouldn't be left holding the bag if the worst came to pass.

And the state wouldn't caught short either. This is important when you consider that the Legislature will be asked to pay half the cost of the River Campus project, currently estimated to cost $35.6 million.

The River Campus continues to make sense as an economic-development project for Cape Girardeau. That's why the city has taken such a strong interest in it.

A recent statewide study showed that the arts are a significant economic factor in Missouri. The study showed that arts activities contribute $76.9 million annually to the state's economy. But when the so-called ripple effect is calculated, there is a $326 million benefit each year to the state from all the various arts programs.

Clearly, the arts are significant for many reasons. Special concerts and performances have been important to Cape Girardeau for decades as various civic and educational efforts brought outstanding artists, performers, orchestras and theatrical shows to the community.

A combination of university programs, cultural opportunities and economic growth provides a compelling argument for the River Campus. That's what city officials need to hear Monday night at the public forum.

The results on Election Day plainly demonstrated that a majority of voters favor the River Campus. It now appears that a good solution to financing the project is available. This momentum should carry the project forward with the exciting goal of completing the campus for the arts.