New York News
Mayor Michael Bloomberg gives $15 million loan to 9/11 Museum
NEW YORK -- 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 percent 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.
new york city, michael bloomberg, september 11, new york news
- 4 arrested in deadly NJ mall carjacking 54 min ago
- AccuWeather: Record Warmth 57 min ago
- Live: Eyewitness News on 7online streamed live!
- iWitness Photos and Videos
- Elderly pedestrian hit by two cars in Harlem
- LI burglary foiled by man watching on webcam in China
- GWB repair work will close upper level lanes
- Long Island driver charged with DWI in hit and run
- Target offers discount, free credit monitoring after data breach
- Pan Am 103 bombing anniversary marked by memorials
- Photos: Pan Am 103 bombing
- NASA astronauts make spacewalk for urgent repairs
- Knicks lose to Grizzlies, 95-87
- Photos: Fatal shooting at the Short Hills Mall
- 4 arrested in deadly NJ mall carjacking
54 min ago
- AccuWeather: Record Warmth
57 min ago