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Corvette Museum applies for $2.3 million expansion grant
Special to the Daily Times
March 25, 2006,
Bowling Green – The National Corvette Museum is applying for a $2.3 million transportation enhancement grant to be used to add a 27,000 square foot expansion. The grant application will be submitted to the Bowling Green City Commission on March 21 for consideration and request to serve as the local government sponsor.
The grant application will then be submitted to the Kentucky Transportation Cabinet Office of Transportation Enhancement Programs. The museum should receive notification by July 1 if the application is approved.
The museum’s building expansion plans were first announced in June 2003, with a fund-raising campaign to add approximately 60,000 square feet. Approximately $2 million has been raised towards the campaign and with the increased construction costs, the decision was made to take a “phase approach” to begin the expansion.
The first phase is estimated to cost about $5.3 million, and will be funded by the $2.3 million grant, and $3 million by the museum. The museum will need to raise approximately $700,000 and the plans are for this to be obtained from additional fund-raising efforts or from bank financing if necessary.
“For the past 10 years, our main focus has been to reduce debt,” states NCM Executive Director, Wendell Strode. “Having reduced our debt from $12 million to $3 million, it is at a much more manageable level.” Strode said the museum is positioned to do more strategic and long-term planning and sees this addition as “Phase One” for future expansion.
Phase one of the building expansion will bring several needed enhancements to the Museum and its 140,000 annual visitors. Enhancements include: Library/Archives, Historic Car Display Area, Expansion, Restrooms, Classroom, and Corvette Café.
The grant called a T-21 grant, funnels federal money through individual states. A city or county must be a sponsor of the grant application, and the City of Bowling Green is being asked to sponsor the museum’s efforts.
“We are excited about this grant opportunity and our potential expansion, which will bring additional visitors to Bowling Green and thus be a positive economic impact on our community and state.” said Strode. The enhancements of the additional expansion will help the museum continue its mission of educating the public on Corvette’s contribution to American and automotive history. The expansion will add to the museum experience as the entertainment and educational facility for all things Corvette. Additional information on the museum’s expansion plans can be obtained by calling (800)53-VETTE.
The museum is open daily from 8 a.m. to 5 p.m., and is located on I-65 at Exit 28 in Bowling Green.
Special to the Daily Times
March 25, 2006,
Bowling Green – The National Corvette Museum is applying for a $2.3 million transportation enhancement grant to be used to add a 27,000 square foot expansion. The grant application will be submitted to the Bowling Green City Commission on March 21 for consideration and request to serve as the local government sponsor.
The grant application will then be submitted to the Kentucky Transportation Cabinet Office of Transportation Enhancement Programs. The museum should receive notification by July 1 if the application is approved.
The museum’s building expansion plans were first announced in June 2003, with a fund-raising campaign to add approximately 60,000 square feet. Approximately $2 million has been raised towards the campaign and with the increased construction costs, the decision was made to take a “phase approach” to begin the expansion.
The first phase is estimated to cost about $5.3 million, and will be funded by the $2.3 million grant, and $3 million by the museum. The museum will need to raise approximately $700,000 and the plans are for this to be obtained from additional fund-raising efforts or from bank financing if necessary.
“For the past 10 years, our main focus has been to reduce debt,” states NCM Executive Director, Wendell Strode. “Having reduced our debt from $12 million to $3 million, it is at a much more manageable level.” Strode said the museum is positioned to do more strategic and long-term planning and sees this addition as “Phase One” for future expansion.
Phase one of the building expansion will bring several needed enhancements to the Museum and its 140,000 annual visitors. Enhancements include: Library/Archives, Historic Car Display Area, Expansion, Restrooms, Classroom, and Corvette Café.
The grant called a T-21 grant, funnels federal money through individual states. A city or county must be a sponsor of the grant application, and the City of Bowling Green is being asked to sponsor the museum’s efforts.
“We are excited about this grant opportunity and our potential expansion, which will bring additional visitors to Bowling Green and thus be a positive economic impact on our community and state.” said Strode. The enhancements of the additional expansion will help the museum continue its mission of educating the public on Corvette’s contribution to American and automotive history. The expansion will add to the museum experience as the entertainment and educational facility for all things Corvette. Additional information on the museum’s expansion plans can be obtained by calling (800)53-VETTE.
The museum is open daily from 8 a.m. to 5 p.m., and is located on I-65 at Exit 28 in Bowling Green.
