THE SEMINARY; FINANCING OPTIONS: WHAT SHOULD THE CITY'S ROLE BE?

One of the more intriguing issues before the city of Cape Girardeau is what to do with the seminary property on Morgan Oak. Colonial Cape Foundation has recently purchased the seminary and has asked the city of Cape Girardeau to participate in certain aspects of funding. What level of funding is not clear at this point in time. At some point in time the level of funding must be made clear to the city before any decision on the city's potential involvement in the project can be determined.

The primary issue that the city must decide is to what extent is the city going to become involved in a private enterprise. I don't believe anyone would doubt that the seminary has significant historical value. I further don't believe anyone would seriously object to preserving the seminary as a historical property. I don't think many people would object to the property being a tourist attraction or that the property develop a cultural tourist theme. What I think many people would question is to what extent, if any, the city should participate in the ownership and funding of this endeavor.

Before such an endeavor can be undertaken, what will be the city's ownership interest in the property, the source of revenue for funding, the anticipated cost that the city might be required to bear and the ongoing maintenance cost that the city might be required to sustain must be analyzed. These costs must be analyzed in relationship to the benefit that the community as a whole would receive from such an investment.

There is no doubt that the city has engaged itself in various joint projects for the betterment of the community. The Cape Girardeau public schools and the city jointly paid for and operate a swimming pool next to Central High School. The revenue that is received from the pool does not cover the cost of operations. However, it is a tremendous benefit to the community as a whole and is a benefit when attracting business to the community.

Similarly, the Show Me Center has been a great benefit to the community with the conventions, the concerts and the various events that, over the last eight years, have been held there. The cost of the operation of the Show Me Center has been borne by the city as well as the university, and that operation essentially breaks even.

Both of the joint projects that the city has with either the school district or the university were funded by public bond issues voted upon by the citizens of Cape Girardeau. Furthermore, both projects involved cooperation between two public bodies, i.e. the Cape Girardeau School District and the Southeast Missouri State University. The projects did not involve a private foundation.

Should the city decide that the seminary should become part of the city in conjunction with a private foundation, I believe that the citizens of this community must have a complete say-so in that endeavor. First, the citizens should be asked whether or not the city should join in such an endeavor and, second, if so do our citizens want to approve some form of a tax to pay for part of the purchase and the ongoing costs of operation and maintenance. These decisions cannot be made quickly. The form of the partnership must be developed. Ownership issues resolved along with where the money comes from, who's going to run the show, the involvement of the Conventions and Visitors Bureau, the overall future development, etc. must be answered before any vote is taken. The public, as has been the case in the recent past, should know all the facts before a vote is taken.

Colonial Cape Foundation has informed the city council it has $310,000 from private fund-raising efforts. This is very commendable; however, if Colonial Cape has a current funding crisis with money due the former seminary owners, then Colonial Cape should use this $310,000 as a stopgap measure until the city and Colonial Cape can work out a proposal and the community vote on whether or not the city should invest in this project. This is a community investment opportunity that should be decided by the city as a whole with all the facts laid on the table before hand.

Al Spradling III is the mayor of Cape Girardeau.