Bob Aston
VSHF President
Chairman & CEO
Towne Bank
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Capital Campaign Update - August 2004
The Sports Page met with Bob Aston, president of the Virginia Sports Hall of Fame Board of Directors, to get the scoop on the construction of the new museum.
SP: Where does the Capital Campaign stand now that construction is well underway?
BA: We have $8.7 million already pledged to the campaign, which is nearly 75% of our goal of $11.8 million. It’s very exciting to watch our numbers grow along with the facility itself—the progress of construction is almost like a visual representation of our campaign’s growth.
SP: What efforts are being put forth to reach the campaign goal?
BA: Our efforts continue to focus on contacting several statewide organizations with a history of making charitable contributions. An anonymous donor has pledged to match up to $500,000 in new pledges, making for a total of $1 million in additional pledges. Visitors to Olde Towne can walk by the construction site and experience for themselves the strong presence of the new Hall of Fame. The realization of the new facility’s potential as a major tourist attraction is enough for some people to want to make a contribution and be a part of this historic addition to the Olde Towne district.
SP: What is the response of the City of Portsmouth to the new construction?
BA: Anyone who drives or walks through the downtown district cannot help but be impressed with the new addition. The look of the new Hall of Fame building fits right into the Olde Towne design and can be seen from the High Street ferry landing. It definitely will help enhance the waterfront area along with the Children’s Museum, which is just across the street.
SP: When is the projected date for the Hall of Fame to reach its Capital Campaign goal?
BA: We actually do not have an established date to complete the Capital Campaign. There are a few naming opportunities and sponsorships still available. When construction reaches the point where tours of the facility can be conducted, donors will have the opportunity to visualize what we are creating.
SP: Were you pleased with the financing package the Hall of Fame was able to obtain?
BA: Without question the package that was made available to the Hall of Fame is one of the highlights of the entire process. The City of Portsmouth was the first to get the ball rolling. Next came New Kent County, with the availability of bonds. Finally, Bank of America came forth with a package structured to allow the Hall of Fame to invest in the market and realize a potential profit for our Endowment while paying down on the loan.
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