Several people have asked (rhetorically, no doubt) how the City can still be considering building a museum given the current economic climate. So I posed a few questions about that to the Museum Collaboration Group, and they graciously responded:

Q: In light of the current economic conditions, especially the so-called credit crunch, how would this museum be built even in your current fundraising goals were met?

A: “We have always said we would not begin building until we had met our fund-raising goals. We won’t start with a partially funded building. So, if our funding goals are met, we’ll build the museum.”

Q: Would you have access to the funds you would need to borrow to make this project a reality?

A: “We have never planned to take out long-term loans to build the museum. Some short-term bridge loans have always been factored into the plans, and we do not expect that these loans will be unavailable.”

Q: How is the current economic climate affecting your efforts?

A: “We are concerned about the current economic climate, but to date we are still on plan with our fundraising efforts.”