The state Budget and Control Board has given the Patriots Point Naval and Maritime Museum near Charleston two years to pay back the borrowed $9.2 million. In 2009 Patriots Point borrowed more than $9 million from the state with an agreement to pay back by last December. That did not happen, however. Due to federal earmarks the historic museum just didn’t have enough funds to pay the money back last year.
Although the museum is under new leadership, it does plan to pay every dollar back. The money was borrowed and used to repair the USS Laffey because of concerns the ship would sink due to a leaking hull. The Post and Courier reports Patriots Point is still mapping out plans to pay back the loan, including the leasing or selling of property on the grounds of the museum, federal assistance or even private donations.
The museum has until 2013 to re-pay the money.