Lighthouse museum goes bust

From the SI Live:

It’s official: The National Lighthouse Museum’s board has formally disbanded, essentially sinking the cash-strapped 11-year-old project here.

In a statement released today, the board said its long-anticipated decision was based on "dwindling prospects" the project could advance at its St. George location.

The 10-acre site abuts the St. George Ferry Terminal and was the 19th century home of the U.S. Lighthouse Service, a precursor to the U.S. Coast Guard. Once viewed as a linchpin in a multimillion-dollar harbor enclave designed to rejuvenate St. George and attract tourists, the project was to feature the museum, housing, shops and restaurants.

The board cited the current economic downturn, the dramatic post-9/11 change in the funding climate and difficulties in finalizing plans and development agreements with government agencies as reasons for its dissolution.

The board also failed to raise the $15 million needed to open the museum’s doors.

A national steering committee awarded Staten Island the museum project in 1998 after then-Gov. George Pataki, former Mayor Rudolph Giuliani and former Borough President Guy V. Molinari put up a combined $5.5 million in public money.

The city Economic Development Corporation has already spent $8 million to stabilize two other buildings — former lamp and machine shops — at the site and Borough Hall has allocated millions of dollars.

The EDC is batting 1000% lately. Willets Point will be the next great failure.