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

Bloomberg gives $15M loan to Sept. 11 Museum

Posted: Updated:
  • Sept. 11More>>

  • Sept 11 museum takes action on gift shop criticism

    Sept 11 museum takes action on gift shop criticism

    Thursday, May 29 2014 6:37 AM EDT2014-05-29 10:37:25 GMT
    Responding to criticism, National September 11 Memorial Museum officials say victims' families will be consulted regarding merchandise on sale in its gift shop. Memorial Foundation President Joe Daniels says the museum will enlist the help of 9/11 family members who sit on the foundation's board in vetting the products.
    Responding to criticism, National September 11 Memorial Museum officials say victims' families will be consulted regarding merchandise on sale in its gift shop. Memorial Foundation President Joe Daniels says the museum will enlist the help of 9/11 family members who sit on the foundation's board in vetting the products.
  • 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.

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>>

  • WTC shipwreck mystery solved

    WTC shipwreck mystery solved

    Wednesday, July 30 2014 6:08 PM EDT2014-07-30 22:08:14 GMT
    Archeologists say they've solved a mystery that started with the rebuilding at ground zero. During the excavation at the World Trade Center Site, workers uncovered part of an old ship. No one knew where it came from. Now after years of study, researchers believe the sloop dates back to 1773, built from wood harvested from Pennsylvania, the same kind used to build Independence Hall.
    Archeologists say they've solved a mystery that started with the rebuilding at ground zero. During the excavation at the World Trade Center Site, workers uncovered part of an old ship. No one knew where it came from. Now after years of study, researchers believe the sloop dates back to 1773, built from wood harvested from Pennsylvania, the same kind used to build Independence Hall.
  • NYC subway report card

    NYC subway report card

    Wednesday, July 30 2014 5:09 PM EDT2014-07-30 21:09:16 GMT
    "A mixed bag": That's how the Straphangers Campaign characterizes New York City subways; some good parts and some bad. For example, the C train breaks down most often, not surprising since the line has 50-year-old cars. But C trains were also the cleanest in the transit system.Straphangers said the worst subway trains were the IRT's No. 2.
    "A mixed bag": That's how the Straphangers Campaign characterizes New York City subways; some good parts and some bad. For example, the C train breaks down most often, not surprising since the line has 50-year-old cars. But C trains were also the cleanest in the transit system.Straphangers said the worst subway trains were the IRT's No. 2.
  • Injured detective in Village shootout leaves hospital

    Injured detective in Village shootout leaves hospital

    Wednesday, July 30 2014 1:28 PM EDT2014-07-30 17:28:00 GMT
    The third law enforcement officer injured in a Manhattan shootout is out of the hospital. The NYPD says Detective Mario Muniz was left Bellevue Hospital shortly after noon on Wednesday. Hundreds of his fellow police officers cheered as Muniz left the hospital in a wheelchair pushed by his NYPD patrol partner, Joseph Trovato.

    The third law enforcement officer injured in a Manhattan shootout is out of the hospital. The NYPD says Detective Mario Muniz was left Bellevue Hospital shortly after noon on Wednesday. Hundreds of his fellow police officers cheered as Muniz left the hospital in a wheelchair pushed by his NYPD patrol partner, Joseph Trovato. Police Commissioner William Bratton has said the detective's protective vest may have saved his life.


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