CALIFORNIA BUSINESS MINUTE
NorCal Disney
04-17-08
Hi, I am Tim Johnson and welcome to the California Business Minute.
A museum dedicated to Walt Disney took a leap forward recently. During the last
week in March, the California Infrastructure and Economic Development Bank sold
$58 million in revenue bonds for the Walt Disney Family Museum, according to reports
from Joe Mysak, a Bloomberg News columnist.
The site for the museum will be San Francisco. Its under construction at the Presidio in
San Francisco, and is slated to open in August 2009, Mysak reports.
Walt already has a virtual museum, the Disney Family Museum Web site, which is
maintained by the non-profit Walt Disney Family Foundation. The Foundation is not part of
The Walt Disney Co., although the site is hosted by Disney Online.
Museum officials expect 300,000 to 350,000 annual visitors with $3.1 million in revenues from
admissions and membership fees. Total income from Museum operations is estimated at about
$3.9 million. That will cover about 40 percent of the Museum's expenses, and the rest will come
from the Foundation.
I am Tim Johnson and this has been the California Business Minute.
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