As construction continues on the National Railroad Hall of Fame in downtown Galesburg, the city has formalized a $1 million contribution to the project.
The city council on Monday approved a grant agreement establishing the terms of the contribution, after pledging in 2022 to commit up to that amount.
The visitor attraction is being built at 247 S. Seminary St. near Galesburg’s Amtrak depot and is expected to open in summer 2027.
The grant funds must be used for capital costs in constructing the building, with half available once the NRRHOF has at least $6 million in pledges in hand from other sources and the other half after a certificate of occupancy is issued.
Mayor Peter Schwartzman invoked the words of Galesburg-born poet Carl Sandburg while reflecting on the project at the council meeting.
“Nothing happens unless first a dream,” Schwartzman said. “And that dream started several decades ago, and now it’s coming to fruition. So we’re all excited.”
Congress designated Galesburg as the home of the National Railroad Hall of Fame in 2003. The concept of a visitor’s attraction was first announced to the public in 2006.
The grant period for the city funds is ten years. If the attraction ceased operations during that time period, the NRRHOF would have to repay a prorated portion of the city’s contribution.
The contribution also gives the city an opportunity for naming rights, though the specifics have not been determined.
The council also approved the NRRHOF’s request to use its lease on the city-owned property as collateral for a $5.5 million loan from Tompkins State Bank.
The organization plans to use the financing for construction while it waits for pledged donations to come in. The city will not be responsible for repaying the loan.
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