The executive director of the controversial Earthpark indoor rain forest said Tuesday he is optimistic about the project's future as a critical Saturday deadline nears.
Executive Director David Oman told The Gazette an application detailing the project's financial commitments will be filed by the end of the week with the U.S. Department of Energy for a federal grant. Brian Quirke, a spokesman for the Department of Energy, said department officials expect to receive the paperwork Friday.
Earthpark, once linked to Cedar Rapids and Coralville but now slated for Pella, has until Saturday to show the energy department it has secured $48.3 million in pledges toward the $140 million project. If it doesn't, it will lose a matching $48.3 million federal grant - a scenario that likely would doom the project.
Oman declined to say if Earthpark has at least $48.3 million in pledges. "I'm not getting into all the details of the application," he said. "As I said, we have a very sound application and a good array of sources willing to help."
When a reporter said sending in the application seemed to imply Earthpark officials believe they've met the requirements to get the federal money, Oman said, "Understood." When asked if he was feeling optimistic about the project, he said, "Yes."
So far, the only confirmed commitment is from Atlanta-based Maxon Holdings for $10 million of in-kind support. Pella is to kick in another $25 million as part of the agreement to locate the project there.
There was some question whether in-kind contributions would count toward the federal match, but Quirke said his department has ruled they will. The Earthpark does not need to have the $48.3 million in hand by Saturday but rather must have secured pledges totaling at least that much, and that the department and Earthpark officials have been in close contact this past month about what is needed.
What does the newspaper mean that there was a question on whether in-kind contributions would count?
Haven't they read the legislation that Senator Chuck Grassley wrote and re-wrote for fellow Republican and campaign contributor David Oman?
This project has gone from $280 million down to $140 million over the years. While it's been supposedly scaled back somewhat lately ($180 million, $150 million....), it is rare to have such an enormous construction project actually cost less year after year.
And how is Pella going to come up with $25 million? The population of Pella is less than 10,000. That's $2500 for every man, woman, and child in town.
The biggest problem are these "in-kind" donations, which are little more than promises for free services at sky-high rates in order to fluff the numbers.
You can't rent a car with shower curtain rings and you can't build a $140 million project with in-kind donations. The Federal Government simply shouldn't allow it, but Grassley included it anyway.
Let's not even get into how Oman is going to finance the additional money needed beyond the grant and the "matching" money.
One saving grace is that Oman is not going to get a dime out of Democratic Governor Chet Culver, much less the Democratically-controlled Iowa Legislature:















































