In the post office box of the Citizens for Responsible Spending, we anonymously received this memo purportedly from Caterpillar, dated April 9, 2009:
Build the Block: Peoria Riverfront Museum and Caterpillar Visitor Center Leader Talking Points (Peoria Area)
Caterpillar is pleased about the vote to move forward with Build the Block. We made a commitment in 2002 to support a new regional museum and we will stay true to this commitment. Caterpillar’s funding of this project will be in the near future, but will not occur in 2009.
- The budgeted cost of the Visitor Center is $41 million. Planning for this project will be modified to reflect our current financial circumstance.
- The Caterpillar Foundation has pledged $13.5 million to the museum. We have made the decision to temporarily suspend outright cash payments, however, the Foundation will continue to match payments to the museum project from employees and retirees.
The Visitor Center will benefit Caterpillar in many ways:
- Enhance the overall customer experience when Caterpillar dealers bring customers to Peoria to visit the company.
- Provide a complete perspective of our commitment to customer success, regardless of where they are working around the world.
- Exhibits will focus on the value of our equipment, engines and services and the long-term relationships which offer customers a superior value in providing solutions to their business challenges.
Hmmm. So much for stimulating the economy while so many people are facing hard times. Evidently the new plan is to wait for better economic times to build.
….and yet the sales tax still holds…?
Does ANYONE ELSE see anything wrong with this picture?
“The Caterpillar Foundation has pledged $13.5 million to the museum. We have made the decision to temporarily suspend outright cash payments, however, the Foundation will continue to match payments to the museum project from employees and retirees.”
So… does this mean Cat will only contribute an equal amount to their employees? If The employees (and retirees) only donate $22.65, then Cat will come up about $13,499, 977.35 short of their pledged amount?
if CAT is backpeddaling this fast, wonder what the PRM folks are doing?
See my blog. Wonder how much Cat and it’s Foundation have already given to PRM and how much of that amount has been spent. This should all come in in subsequent Peoria County Board meetings.
I’ll try to get as much transparenty as Patrick, Henry and Jim will allow.
As much transparency as Patrick, Henry and Jim WILL ALLOW?
Time to start hiring thugs………………..
No thugs. We need more people to get the “real” facts out to the people. Maybe more would come out to vote.
Also, for every dollar spent on the riverfront in subsidies, grants city and county bad loans (In-Play and RiverStation) and tax free TIF and Enterprise zones, what help is being given or ever was given to help businesses between the river and the Shoppes?
During the referendum campaign, Caterpillar said it wanted the property and sales tax it would pay for the now scaled back Visitors Center, given to the musuem.
Wonder if the county board will make that decision if they do, is it legal? We’ll try to find out.
Sorry, I missed a comma after “grants”.
O.K.
No thugs.
One wonders if CAT was planning this ‘move’ all along? If this info had gotten out before the vote………………?
Ah well. We can only speculate.
Gee, I think I posted somewhere and said that CAT would weasel out all in the name of the economy. Once again, Peoria has been duped and now we have a tax which I’m sure the wise County board will find a use for in the interim.
So what does this mean? That they aren’t building the museum?
Just for the record……………………
I agree with Emtronics. The county has their sales tax ‘in pocket’. If [a] museum is not built [now], what happens to the tax?
All this strange talk going round about ‘pooling’ city and county resources, etc…….
Maybe the only county ‘resource’ the city wants is $!!!
Maybe Lakeview should have taken the money they managed to scrape together and run with it? Afterall, you are all familier with the old saying; two in the bush is better than one right between the eyes.
Waiting to see what kind of ‘pressure’ CAT starts putting on its employees to cough up more cash; you know, the old matching dollar for dollar scam.
What does total Racing bill cost Cat ?
Has to be in Millions+ every year?
and actual winning results if any?
return what?
Advertising… Brand recognition… stock buying suckers
kcdad makes sense [finally].
How many people watch NASCAR events weekly?
How many people are REALLY going to come to Peoria to visit the museum/visitor’s center?
Someone do a little number dance please.
Hey folks, the Museum Group is still $10 million short of their goal and with their track record of private fundraising, do you think they’ll be able to find pledges for that $10 million by the end of the year?
With all CAT’s financial issues this year, and with the layoffs they’ve implemented, it sure seems like a wise and prudent decision for them to hold off investing any additional funds into this project until the Museum Group demonstrates that they can complete their end of the project. I’d say the burden is on the Museum Group to show CAT that they can take advantage of this windfall from the County. Until then, I’d be sittin on the sidelines as well.
I’m now on the sidelines taking notes. Our admistrator met with the CEO Roundtable people yesterday. I asked him to bring back a check for $10 million or more.
I’ll ask tomorrow how much they raised in cash, no pledges as pledges are cheap and broken without ever donating a dime.
Chcek my blog site Friday or Saturday for their excuses. Then, maybe not. We’ll see.