A legislative panel advanced a plan by the Patriots Point Naval & Maritime Museum to lease out land for a new resort, which the museum hopes can pay for repairs to its deteriorating World War II ships.
The Joint Bond Review Committee gave its blessing Tuesday to a proposal which would develop 61 acres near the Mount Pleasant museum into a new resort and commercial complex. But the committee only agreed if a portion of those lease payments went towards the remainder of a $9 million loan the state gave the museum in 2009 to pay for repairs to an aging USS Laffey.
“That, plus operations, will be able to make this,” Patriots Point Development Authority Vice Chair Wayne Adams told the committee. “The next three years will be tight, because we’re trying to upgrade the museum, as well.” [Read more…]