Slavery Museum Files Reorganization Plan

From The Richmond Times-Dispatch, February 23, 2012:

The U.S. National Slavery Museum filed a bankruptcy reorganization plan Friday under which it expects to raise $900,000 in its first year of fundraising, starting Oct. 1.

The museum, located in Fredericksburg and headed by former Gov. L. Douglas Wilder, filed for Chapter 11 bankruptcy protection Sept. 21, six years after it was scheduled to open.

The reorganization plan, among other things, would pay the city of Fredericksburg $15,000 per quarter, starting Oct. 1, toward more than $200,000 in real estate taxes owed on the museum property.

The Pei Partnership Architects is owed $3.7 million, according to the museum’s bankruptcy filing. The museum filed for Chapter 11 bankruptcy protection in September and reported $7.2 million in liabilities and $7.6 million in assets.

Wilder, the nation’s first elected black governor and a former mayor of Richmond, proposed the museum chronicling the nation’s history of slavery but was unable to raise the funds to build on 38 acres in Fredericksburg.

Wilder had recruited entertainer Bill Cosby and other prominent African-Americans for the museum’s board.

The museum’s creditors include designers and construction and turf companies that were involved in the planning and site preparation for a museum that was never built. They also include people who donated artifacts that would have been displayed at the museum, such as leg and neck shackles.

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