Local News
Riverboat moves closer to reality
ST. ELMO — It’s been three years, and after many meetings, the effort to bring The President riverboat to St. Elmo is much closer to actually happening.
During a special meeting of St. Elmo City Council Friday evening, David Campbell of Effingham, co-owner of the boat, updated the council about status of the project.
According to Campbell, the total cost of the riverboat project is about $9 million, including transportation of the boat from Alton to St. Elmo and restoration of the riverboat to the 1930s-1940s era. Campbell told the council the $4.5 million it would take to transport the boat has been raised. Campbell also said he is talking to three different banks regarding loans for the other $4.5 million. However, he said he may not know for certain about the remaining funds until after the boat has been transported to St. Elmo.
Campbell did say if the loans cannot be obtained, he’ll make sure the city doesn’t take the hit, adding he will eliminate certain items now included in the project.
Currently, Campbell is planning to house about 80 hotel rooms, a convention center, a meeting room, lounge, museum and gift shops inside the riverboat. He also is looking to add some amusement-type items to the project, but said he doesn’t want to commit to anything yet because funding for those items are not secure.
The President is currently dry docked in Alton waiting for the OK to be transported, Campbell said.
Before transportation can take place, Campbell’s attorney, St. Elmo’s attorney and a representative for the city’s tax increment must meet and work out the overall plan.
In addition, the city must secure a land deal with Church of Christ of Tower Road for two acres of land where the boat will be located, said Mayor Jason Porter. The original option to buy agreement between the city and the church has expired. City officials also will have to determine the amount of TIF funds it can bond out for the project.
Campbell indicated, however, the clock is ticking since the boat needs to be dismantled, transported to the city and reassembled by December, which will take about two months to accomplish.
Discovery Channel’s “Mega Movers” plans to film the transportation of the riverboat from Alton to St. Elmo. The show began filming in the St. Elmo area this past week, taking various location shots. The documentary-type show will feature an hourlong episode of the move, which could be aired sometime in January. Usually, the television show features two 30-minute documentary-type moves in each episode, but the move of such a large riverboat was such an unusual project the show decided to focus solely on that move in one episode. Campbell said the production is scheduled to be completed in December.
Campbell added if movement is made on the project soon, the permitting process from the state of Illinois could hold it up even more.
“I’m glad the project is moving forward,” Porter said.
Jackie Gorski can be reached at 217-347-7151 ext. 136 or at jackie.gorski@effinghamdailynews.com.
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