Vandenberg In Political Trouble?
- Thread starter polarguard
- Start date
Please register or login
Welcome to ScubaBoard, the world's largest scuba diving community. Registration is not required to read the forums, but we encourage you to join. Joining has its benefits and enables you to participate in the discussions.
Benefits of registering include
- Ability to post and comment on topics and discussions.
- A Free photo gallery to share your dive photos with the world.
- You can make this box go away
deeper thoughts
Contributor
- Messages
- 6,946
- Reaction score
- 2,896
- # of dives
- 500 - 999
Outcome doubtful, but the effort was heroic
Isn't it about time to give up on sinking the Vandenberg, a decommissioned military ship that was acquired to create an artificial reef in offshore waters near Key West?
No matter how well-intentioned this project may be, or how earnestly its supporters believe it will be a boon to tourism, it's our sense that it is a doomed venture.
We take no pleasure in saying it's time to call it quits.
It's true, of course, that many citizens have expressed reservations about the desirability of this project from the beginning. But now, the issue is not so much a matter of opinion as it is a matter of money. Total cost of the project is now estimated to be $8.6 million, a hefty increase over the initially projected cost of $2.6 million. Furthermore, as we shall explain, the funds necessary to cover these costs may not be adequate, even if contingency limitations imposed on some of the funding can be overcome.
At present, the Vandenberg remains in a Norfolk, Va., shipyard, having been "detoxed" for an environmentally safe final resting place in waters near Key West. Some further work remains, but isn't being undertaken because the ship is saddled with a $1.7 lien stemming from unpaid bills. Even if these obstacles can be resolved, it is hoped — but not yet certain — that Florida's Office of Tourism, Trade and Economic Development will refund all expenses incurred for towing this 524-foot, 20,000-ton ship to the site near Key West.
Yet another cluster of difficult financial hurdles must also be resolved.
It's our understanding that three local banks initially committed to loans totaling $4.6 million, but subsequently have capped that amount at $3.2 million. And the state of Florida has allocated $1 million, but not yet appropriated the funds.
Monroe County has pledged $2 million and the city of Key West has pledged $1 million (if needed). The Monroe County Tourist Development Council (TDC) has also pledged $1 million. But all of these funds are contingent on bringing the ship on site and sinking it as a revenue-producing tourist attraction. Accordingly, no funds authorized by the city and county commissions or the TDC have as yet been invested in this project.
At this juncture, it is difficult to accurately pin down the actual gap between funds available and total costs. But best case, the shortfall is at least $1.5 million — even if the shipyard's lien can be satisfied and all other commitments and pledges fall into place.
In our opinion, additional government grants are unlikely. Slumping tax revenues at the state, county and municipal levels are already forcing painful budget cuts. Fundraising efforts aimed at seeking gifts from individuals have proved largely unsuccessful and, now, the amounts required seem well beyond any realistic estimate of what can be obtained through a broad-based community fundraising campaign.
All things considered, we think it's time to take a hard look at Plan B: Abandon the project and sell the Vandenberg for scrap. It's worth $2 million, maybe more. These funds could be used to help pay off loans and satisfy the lien.
If this turns out to be the fate of the Vandenberg, we are nevertheless obliged to recognize, with thanks, the folks who have put so much effort for so many years into this enterprise.
Joe Weatherby and the nonprofit ARK group who initiated the project and worked untiringly to make it happen. Commissioner Bill Verge, Key West's liaison, who did his utmost to secure financial underwriting. And, of course, the three banks (BB&T, Orion and First State) who generously stepped up to help facilitate what could have been an exciting addition to Key West tourist attractions.
A heroic effort by all hands no matter the final outcome.
— The Citizen
Todays editorial Key West citizen
Isn't it about time to give up on sinking the Vandenberg, a decommissioned military ship that was acquired to create an artificial reef in offshore waters near Key West?
No matter how well-intentioned this project may be, or how earnestly its supporters believe it will be a boon to tourism, it's our sense that it is a doomed venture.
We take no pleasure in saying it's time to call it quits.
It's true, of course, that many citizens have expressed reservations about the desirability of this project from the beginning. But now, the issue is not so much a matter of opinion as it is a matter of money. Total cost of the project is now estimated to be $8.6 million, a hefty increase over the initially projected cost of $2.6 million. Furthermore, as we shall explain, the funds necessary to cover these costs may not be adequate, even if contingency limitations imposed on some of the funding can be overcome.
At present, the Vandenberg remains in a Norfolk, Va., shipyard, having been "detoxed" for an environmentally safe final resting place in waters near Key West. Some further work remains, but isn't being undertaken because the ship is saddled with a $1.7 lien stemming from unpaid bills. Even if these obstacles can be resolved, it is hoped — but not yet certain — that Florida's Office of Tourism, Trade and Economic Development will refund all expenses incurred for towing this 524-foot, 20,000-ton ship to the site near Key West.
Yet another cluster of difficult financial hurdles must also be resolved.
It's our understanding that three local banks initially committed to loans totaling $4.6 million, but subsequently have capped that amount at $3.2 million. And the state of Florida has allocated $1 million, but not yet appropriated the funds.
Monroe County has pledged $2 million and the city of Key West has pledged $1 million (if needed). The Monroe County Tourist Development Council (TDC) has also pledged $1 million. But all of these funds are contingent on bringing the ship on site and sinking it as a revenue-producing tourist attraction. Accordingly, no funds authorized by the city and county commissions or the TDC have as yet been invested in this project.
At this juncture, it is difficult to accurately pin down the actual gap between funds available and total costs. But best case, the shortfall is at least $1.5 million — even if the shipyard's lien can be satisfied and all other commitments and pledges fall into place.
In our opinion, additional government grants are unlikely. Slumping tax revenues at the state, county and municipal levels are already forcing painful budget cuts. Fundraising efforts aimed at seeking gifts from individuals have proved largely unsuccessful and, now, the amounts required seem well beyond any realistic estimate of what can be obtained through a broad-based community fundraising campaign.
All things considered, we think it's time to take a hard look at Plan B: Abandon the project and sell the Vandenberg for scrap. It's worth $2 million, maybe more. These funds could be used to help pay off loans and satisfy the lien.
If this turns out to be the fate of the Vandenberg, we are nevertheless obliged to recognize, with thanks, the folks who have put so much effort for so many years into this enterprise.
Joe Weatherby and the nonprofit ARK group who initiated the project and worked untiringly to make it happen. Commissioner Bill Verge, Key West's liaison, who did his utmost to secure financial underwriting. And, of course, the three banks (BB&T, Orion and First State) who generously stepped up to help facilitate what could have been an exciting addition to Key West tourist attractions.
A heroic effort by all hands no matter the final outcome.
— The Citizen
Todays editorial Key West citizen
canadianreefer
Guest
This is a very sad state of affairs. Joe Weatherby put his heart and sole into this and gave up a number of opportunities to make this happen.
I can not imaging how illogical it is for this ship to be sold for scrap when she is so close to completion as a artificial reef. It may be the political shyness of a election year and the disasterous economy but is it possible that some politician might have the foresight and vision to grab this project for 2 million
I can not imaging how illogical it is for this ship to be sold for scrap when she is so close to completion as a artificial reef. It may be the political shyness of a election year and the disasterous economy but is it possible that some politician might have the foresight and vision to grab this project for 2 million
mike_s
Contributor
They've already spent several million bucks....
stopping now just flushes all that already spent "down the drain" and makes it a complete loss.
stopping now just flushes all that already spent "down the drain" and makes it a complete loss.
I've only lived here a short time but the failure is something many locals expected a long time ago. It's a shame but not surprising.
mike_s
Contributor
I would guess that 90% of the people who live in Key West dont' care much about diving or divers....
They would rather see the millions spent on upgrading their sewer problems.
deeper thoughts
Contributor
- Messages
- 6,946
- Reaction score
- 2,896
- # of dives
- 500 - 999
Then give (or sell) the wreck to an area that does... They've had their shot..., its worth $2mil for scrap.., and unless they follow through, thats KW's only option right now... so I'd say the price is set for any community that wants to pony up $2mil for a cleaned wreck ready to drop on their site.
But that option is only available if they pony up the 1.7mil to get the ship out of hock... so they are recouping what? $300K...? And then I'm sure there will be costs in transferring the ship to the scrap folks... that'll eat that right away.
-Tim
But that option is only available if they pony up the 1.7mil to get the ship out of hock... so they are recouping what? $300K...? And then I'm sure there will be costs in transferring the ship to the scrap folks... that'll eat that right away.
-Tim
keyshunter
Contributor
Funny that you said that Al. When I lived there, we used to say that you could throw a stone into any small gathering of people in KW and hit a drunk or a druggie.
Similar threads
