Mayor Tom Hartz said in addition to fundraising, the city would consider borrowing more money and using more money from the city’s lakefront fund.
Hartz said borrowing money would be considered a last resort option. But he also acknowledged that a public fundraising campaign could take several months.
“We could do one or all as a whole package,” he said. “It’s not going to be as simple as writing a check.”
Asked by Alderman Doug Skates if the city should consider applying for outside grants to pay for the Riviera project, Sweeney said applying for grants is a good idea.
Sweeney said the city also could pursue state or federal historic tax credits to help with funding.
“State historic tax credits are pretty easy to get. It can cover about 20 percent of your cost,” she said. “Federal tax credits are a little tougher.”
With a public fundraising effort, Sweeney said the entire process could take up to 18 months.
“If you get people engaged in the short term, about 85 percent of them will stay,” Sweeney said. “They will become donors, they host an event, they will do whatever.”
Sweeney said another idea is called the “100 extraordinary women campaign,” in which 100 women pledge to donate $1,000 each towards a project.