"I hope it happens," said
The plan will be presented to the state
The bill calls for the state to take
Officials have said the combined
The plan would not involve the issuance of any new revenue bonds, which could help resolve concerns expressed by state House members who have balked in the past at the prospect of the state issuing new debt.
The bill calls for the museum's current governing structure to be abolished and for the creation of a public trust to manage it.
It would prohibit the museum from accepting any future federal funds, Loveless said.
Wade said the museum's business model calls for it to pay all operating expenses from revenue generated by admission and gift shop sales as well as the lease of surrounding properties to complementary business enterprises.
Potential new development opportunities include hotels, restaurants, Indian art colonies and tribal business enterprises, he said.
"It is just going to be an exciting area there on the river," he said of the museum and surrounding businesses that would be built along the
"The exciting thing for me is this would give all of our American Indians the opportunity to bring in their art and sculptures," Wade said. "We're going to be able to sell these things. Everybody has been going out to
The bill calls for any excess revenues generated by the museum, beyond what is needed to pay for maintenance and operations, to be used to help the state pay back bonds previously issued to help construct it.
(c)2014 The Oklahoman
Visit The Oklahoman at www.newsok.com
Distributed by MCT Information Services