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97-Acre Gettysburg Project Looks for More Money

GETTYSBURG, PA-Gettysburg Foundation enhances plans for the Civil War battlefield and museum, raising its fund-raising goal from $95 million to $125 million.

By Marita Thomas | Updated on February 21, 2007

GETTYSBURG, PA-The Gettysburg Foundation has significantly expanded and enhanced its objectives for preservation and renovation of the Gettysburg National Military Park, which includes construction of a new 139,000-sf visitor center and museum. As a result, the initial $95-million fund-raising campaign has risen to $125 million, and the five-year project has turned into a seven-year timeline.

The new site encompasses 97 acres. Two existing buildings will be removed to allow that portion of the battlefield site to be restored to its 1863 appearance. The new building will contain the restored Cyclorama painting that a spokeswoman says is “longer than a football field;” a visitors’ center, 11 galleries, a library/reading room, refreshment area, storage facilities and a parking area that does not intrude on the battlefield space. The site is scheduled to open in spring 2008.

Buffalo-based M&T Bank Corp. is underwriting a $20-million bond financing package for the project and is also providing a $10-million line of credit to the foundation. “The bonds are currently being re-marketed by M&T to investors,” an M&T spokesman tells GlobeSt.com, and the line of credit is available to cover project costs as they arise.

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