Bloomberg gives $15M loan to Sept. 11 Museum - Los Angeles Local News | FOX 11 LA KTTV

Bloomberg gives $15M loan to Sept. 11 Museum

Posted: Updated:
  • Sept. 11More>>

  • Memorial remains free

    Sept. 11 Museum president defends $24 admission fee

    Sept. 11 Museum president defends $24 admission fee

    The president of the National September 11 Memorial and Museum is defending the decision to charge a $24 adult admission fee when the museum finally opens in May 2014 after some 9/11 families criticized the price tag.
    The president of the National September 11 Memorial and Museum is defending the decision to charge a $24 adult admission fee when the museum finally opens in May 2014 after some 9/11 families criticized the price tag. Joe Daniels pointed out that the 9/11 Memorial complex receives no federal, state, or local funding to defray its projected $63 million annual operating cost and that the memorial plaza, which is already open, will continue to remain free.
  • NYPD remembers 23 killed on 9/11

    NYPD remembers 23 killed on 9/11

    Wednesday, September 11 2013 11:24 AM EDT2013-09-11 15:24:00 GMT
    The New York Police Department is remembering 23 members killed in the line of duty on Sept. 11, 2001.
    The New York Police Department is remembering 23 members killed in the line of duty on Sept. 11, 2001.
  • Cuomo, Billy Joel lead 9/11 motorcycle ride to WTC

    Cuomo, Billy Joel lead 9/11 motorcycle ride to WTC

    Wednesday, September 11 2013 11:10 AM EDT2013-09-11 15:10:02 GMT
    New York Gov. Andrew Cuomo and singer Billy Joel paid tribute to victims of 9/11 with a commemorative ride to ground zero with members of the FDNY motorcycle club.
    New York Gov. Andrew Cuomo and singer Billy Joel paid tribute to victims of 9/11 with a commemorative ride to ground zero with members of the FDNY motorcycle club.

NEW YORK (AP) - The National Sept. 11 Memorial & Museum has received a low-interest $15 million loan from Mayor Michael Bloomberg to help the nonprofit with a budget shortfall.

The underground museum is slated to open next year.

Bloomberg is the foundation's chairman. The New York Times says he made the lowest possible interest rate of less than 0.3% so it would qualify as a loan rather than a gift under federal rules.

The museum is estimated to cost around $700 million.

The foundation has received more than $425 million from state and federal government and the Port Authority. It's also raised over $450 million in private donations.

A spokeswoman for Bloomberg didn't immediately respond to a request for comment or say why he's making a loan rather than a gift.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Manhattan NewsManhattan NewsMore>>

  • Memo urges cops to use discretion for jaywalking summonses

    Memo urges cops to use discretion for jaywalking summonses

    Thursday, April 17 2014 1:57 PM EDT2014-04-17 17:57:48 GMT
    A memo from NYPD Commissioner Bill Bratton instructs police officers to use discretion when ticketing elderly and disabled pedestrians for jaywalking. This comes after an 84-year-old jaywalker was injured during his arrest on the Upper West Side in January. The memo which was was dated April 15 reads:  "Use discretion when elderly or handicapped persons are observed jaywalking.... If pedestrian actions are not causing a safety risk... warn and admonish the violator instead."
    A memo from NYPD Commissioner Bill Bratton instructs police officers to use discretion when ticketing elderly and disabled pedestrians for jaywalking. This comes after an 84-year-old jaywalker was injured during his arrest on the Upper West Side in January. The memo which was was dated April 15 reads in part:  "Use discretion when elderly or handicapped persons are observed jaywalking.... If pedestrian actions are not causing a safety risk... warn and admonish the violator instead."
  • Court extends NYPD officer's weapons case in India

    Court extends NYPD officer's weapons case in India

    Thursday, April 17 2014 6:57 AM EDT2014-04-17 10:57:01 GMT
    An Indian court says it won't rule before July 1 on the case of a New York City police officer arrested in New Delhi on a weapons charge. The New York Police Department says Manny Encarnacion was arrested in March after Indian authorities discovered three bullets he had accidentally packed in his luggage. He is out on bail but has been barred from leaving India until the case is resolved.
    An Indian court says it won't rule before July 1 on the case of a New York City police officer arrested in New Delhi on a weapons charge. The New York Police Department says Manny Encarnacion was arrested in March after Indian authorities discovered three bullets he had accidentally packed in his luggage. He is out on bail but has been barred from leaving India until the case is resolved.
  • Baby found in teen's shopping bag called homicide

    Baby found in teen's shopping bag called homicide

    Wednesday, April 16 2014 11:07 PM EDT2014-04-17 03:07:27 GMT
    The New York City medical examiner has ruled that the death of a baby found in a teenager's shopping bag was a homicide.
    The New York City medical examiner has ruled that the death of a baby found in a teenager's shopping bag was a homicide.
Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices