USS Forrestal Museum, Inc.  Project News Update
FOR IMMEDIATE RELEASE

Approved for Release by the Board of Directors, USS Forrestal Museum, Inc. on November 1, 1998

Fund raising and property acquisition now the primary focus as
economic feasibility study shows success with even a very conservative tourist capture rate.

We have the long awaited  Economic Feasibility Study prepared by ELLIN & TUCKER, a renowned Baltimore accounting firm that indicates with a very conservative capture rate that the FORRESTAL project would be a success.  More recently, a study by the Baltimore Tourism Office essentially doubles the tourist base and… you guessed it, makes the FORRESTAL project a double winner in amortizing the investment.  Now consider the further enrichment by the carryover effect of approximately 30 million annual visitors to Washington, DC and Annapolis, visitors from all over the country and the world, visitors that are but only forty miles from the first and only SUPER AIRCRAFT CARRIER MUSEUM in the world.


The cost for the study and office rental in Baltimore at 1201 Light Street, has mostly been financed by donations from friends and shipmates in exchange for individual or sets of FORRESTAL COMMERMORATIVE MEDALLIONS struck at the Franklin Mint.  Considerable additional miscellaneous expense has been absorbed by individual directors who all serve without remuneration.  Another commitment for an engineering feasibility study and a rendition of the FORRESTAL on location are in progress and we must raise funds for those obligations.


We are now at the final stages of organizing the FORRESTAL Honorary - Advisory Board.  We are fortunate to have the capable leadership of former Maryland Governor and presently Comptroller, William Donald Schaefer.   Our equally capable naval representative, former Secretary of the Navy and Ambassador, Bill Middendorf, is the Co-chairman.  Many city and state political powers have also agreed to serving since early on as well as a number of very competent leaders in business, labor and industry.  Surely, with all their expertise for our support and guidance, the FORRESTAL Project will no doubt be the success story that rivals that of the Inner Harbor, the gem of the East Coast, as a naval museum with rich rewards for Baltimore and the State of Maryland.


Our efforts are ongoing. Meetings with local and state officials are frequent and positive.  Contacts have been made with several business representatives and they express  a willingness and desire to support the FORRESTAL Project with gifts that total in excess of $1 Million dollars. We will continue with additional efforts.  As we complete our Museum Sponsors Package, our contacts will increase considerably.  This package includes the feasibility study, mission statement, profiles of the board of directors, site development plans, IRS 501-3 approval statement, and other pertinent information.  All the things we need to create the sound footing to continue for the early completion of this project…FORRESTAL…we'll keep you informed.

If  you're interested in supporting the project with a donation or want to get involved in other ways you can do it right through our website.  Check out the Website at http://www.forrestal.org for more details.  Enter the project information center and follow the links to the HOW YOU CAN HELP page.

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