Sit-in museum in Greensboro owes $933k in loan repayment by 2018, city says
GREENSBORO, N.C. — The sit-in museum owes local taxpayers $933,155, according to the city’s review of $1.5 million in “forgivable” loans to keep the museum afloat, according to the Greensboro News & Record.
The news complicates the already fragile finances of the International Civil Rights Center & Museum, which has until Friday to come up with a payment plan.
On June 24, City Manager Jim Westmoreland and Mayor Nancy Vaughan sent a memo to museum officials — a bill, of sorts, that spells out the principal and interest the museum owes taxpayers.
City auditors found $612,510 in donations that count toward the $1.5 million “forgivable” loan, Westmoreland and Vaughan wrote.
But that leaves the museum with a balance of $933,155, they wrote. The money is due in three installments through February 2018.
Read full story: The Greensboro News & Record