The National Railroad Hall of Fame appears primed to receive major financial backing from the city of Galesburg.
On Monday, the Galesburg City Council will consider a proposed resolution which would see the city pledge up to $1 million toward the construction and development of a National Railroad Hall of Fame museum and visitors in downtown Galesburg.
If approved, $500,000 will be reserved in the General Fund and $500,000 will be reserved in the Economic Development Fund for the intended pledge. Even though the funds will be reserved, if the City Council determines that the funds are needed for a different purpose, they may be utilized for these other purposes as approved by the Council. Further, the resolution does not obligate the City Council to provide the intended pledged funding.
Previously: Build new, or use an existing building? Railroad Hall of Fame says it’s decision time
In the future, if the Council does decide to provide the funding to the RRHOF, it will require a separate action by the City Council to authorize payment of any funds to the National Railroad Hall of Fame. This resolution will expire two years from its approval, unless otherwise provided by a subsequent action of the City Council.
The National Railroad Hall of Fame has launched a campaign to build an approximately 6,500 square foot building near the existing Amtrak depot in order to establish a physical location for the Hall of Fame. It is estimated that the cost of the building will be $7.7 million.
Interim City Manager Wayne Carl recommends approval of the intent to pledge of funds to the National Railroad Hall of Fame.
The NRRHOF recently received $250,000 in American Rescue Plan Act funds from Knox County.
