US Slavery Museum files reorganization plan

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Associated Press

Posted on February 22, 2012 at 5:32 AM

Updated Wednesday, Feb 22 at 9:01 AM

RICHMOND, Va. (AP) — The U.S. Slavery Museum has filed a reorganization plan that assumes it can raise at least $900,000 a year and would repay the city of Fredericksburg, Va., $15,000 a quarter for back taxes over four years.

The Fredericksburg museum envisioned by former Gov. L. Douglas Wilder owes creditors about $7 million, and has filed documents with the U.S. Bankruptcy Court in Richmond spelling out how it intends to repay them.

The Free Lance-Star (http://bit.ly/y8FQdp ) reports that the museum's lawyer said in the filing that the museum "conservatively estimates" it can raise $900,000 in the first full year of fundraising and that donations will increase by 50 percent in subsequent years.

Besides Fredericksburg, other creditors include Pei Partnership Architects, which the museum owes $3.68 million.

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