US Slavery Museum debt plan opposed

RICHMOND, Va - The city of Fredericksburg opposes the latest plan by the U.S. National Slavery Museum to dig out from $7 million debt, arguing it lacks specifics and is overly optimistic.

The city's objections take aim at a third reorganization plan filed by an attorney for the museum proposed by former Gov. L. Douglas Wilder. The reorganization plan outlines an ambitious fund-raising schedule and proposes the sale of a portion of the Fredericksburg land where the museum was to be built overlooking the Rappahannock River.

Fredericksburg is owed back taxes totaling nearly $300,000. In a filing Tuesday, an attorney representing the treasurer's office said the proposed reorganization plan "is highly speculative" and hinges on factors beyond the museum's control.

A plan's feasibility is critical for its approval.