Quantcast

Here’s How Much Obama’s Presidential Library Is Going To Cost - WOW!

Former President Barack Obama's presidential library is being planned for the south side of Chicago, and is expected to also contain a museum. Current estimates indicate the library will require a $1.5 billion endowment, which is three times as much as was raised for former President George W. Bush's library.

Presidential libraries used to preserve records, collections and other historically significant materials have been a tradition since the 31st president, Herbert Hoover, left office in 1933. It isn't surprising that the country's first black president, and a president that came at a time of such political upheaval, would be a momentous undertaking. The architects in charge of designing the future 'Barack Obama Presidential Library and Museum' estimate it'll cost some $1.5 billion, according to Breitbart.com.

Originally, a library was discussed and expected to be between $200 and $300 million. Architects Tod Williams and Billie Tsien said the cost of building a library and a museum has contributed to an inflated estimate.

The museum isn't the only expense that has contributed to the cost; federal regulations requiring former presidents to have larger endowments to cover operating costs has also driven it up.

“It won’t be easy,” Williams said. “It’s not just about preserving the past. It’s about the future.”

When in office, Mr. Obama declined to do much fundraising for his future presidential center. Now that he's out of office and home from a much-needed vacation, the former POTUS plans to get the fundraising efforts underway. The Obama Foundation is working with community leaders to plan the library.

The Obamas have selected Chicago's historic Jackson Park for the site of the library and museum. This disappointed some locals of nearby Washington Park, who hoped it would be chosen as the location to revitalize the struggling community. Some park conservationists are concerned about the impact the construction will have on the landmark. If it stays on schedule, the project would be finished in 2021.

Source: Breitbart
Photo: Breitbart

Tell Us What You Think

More News Stories

Across the world, people are beginning to question and challenge gender norms and sexual identity. Rather than accept that gender and sexual...

The music industry lost another legend over the holiday weekend, as Gregg Allman has passed away at the age of 69. As CNN shares, Allman succumbed...

On Friday, 47-year-old Alejandro Done pleaded guilty to aggravated rape, kidnapping and assault and battery. He was a former Uber driver, and he...

You can’t have it both ways. Try as we might, there comes a time when we simply have to decide what the right course of action is. For example, if...

The world of music lost another legend on Saturday, as Malcolm Young passed away at the age of 64. Along with brother Angus Young, Malcolm was one...

Latest News Stories

Many criminals do not learn their lesson after being taken in by the authorities and some criminals become repeat offenders even after they have...

Moving to Minnesota after living in Perhman for 25 years was a tough decision for Lorly Schik. She had spent those year teaching children in her...

In a surprising turn of events, a 92-year-old Georgia woman, who's been a member of the same church for over 50 years, says she was kicked out....

The head of the Homeland Security Department believes Americans should fear their own country’s radical right as much as they do terrorists from...

While it’s generally poor form to pass judgement from afar, there are certain cases in which the passing of it is well-warranted. For example,...