Budget and Control Board approves Medal of Homor Museum lease
More than two years of negotiations with the Medal of Honor Museum Foundation culminated May 8 with the State Budget and Control Board’s (BCB) approval of a 99-year, $1 per year lease for seven acres of property at Patriots Point. The measure – a major step forward toward the development of the $90-100 million national destination museum – was approved by a 3-2 vote.
The BCB also approved a lease option for an additional 6.5 acres that may be used for a commercial venture which would provide revenue for both the Patriots Point Development Authority (PPDA) and Medal of Honor Museum Foundation.
PPDA Chairman Ray Chandler presented the proposal to the Budget and Control Board May 8 and stated that this is a major step toward creating a national destination at Patriots Point.
“The educational, cultural, social and financial benefits of this approval by the Budget and Control Board today will have a lasting effect on many generations to come,” he said. “I sincerely appreciate the faith demonstrated in the PPDA Board by members of the South Carolina Budget and Control Board.”
Chandler continued, “This was a complicated and difficult lease that required everyone to stretch the envelope to make it work. I want to particularly congratulate and thank the PPDA Board members who have spent so much time and effort on this project over the last two years.
“I look forward to celebrating this tremendous gift to our state and nation with Medal of Honor recipient, Major General Jim Livingston,” Chandler concluded. “His spirit and commitment have been critical to the success of our endeavors thus far, and I look forward to our continued partnership.”