The National Corvette Museum paid off some debts this morning, and received a gift in return. The museum returned $691,479 to the Bowling Green Area Convention and Visitors Bureau and $161,479.34 to the city and Warren County. That represents all the money that has been loaned to the museum over seven years, museum Executive Director Wendell Strode said. The bureau then returned $500,000 to the museum for its building expansion fund. We feel this is really a good investment for tourism in the future, bureau Executive Director Gary West said. The expansion will allow the museum to bring in more events, even in the winter months when tourism in the area is slower, West said making the museum even more of an asset to the community. West discussed the action with his board of directors and said they couldnt think of any project that would benefit the area more. The money didnt come from CVBs budget. The CVB board has looked at what it can do to keep the tourism industry in the city stay on a continued upswing, West said. The museum is a major part of that puzzle. It is huge for us, he said. The expansion is expected to cost about $6 million and will double the size of the current museum. All of the money will be raised through donations and fund-raisers to pay for the expansion before construction begins, Strode said. The convention bureau donation brings the current total to almost $1 million. This significant contribution will get national attention for us with clubs and after-market distributors, Strode said. The donation could spur more giving from those areas, he said. The city, county and the convention bureau have been responsible for shortfalls in the museums bond payments. The museum refinanced the bonds at a lower interest rate with a letter of credit from Bank One, and repaid borrowed funds from the three entities with that money about 10 years sooner than required. At the announcement today, museum employees handed large checks to Warren County Judge-Executive Mike Buchanon, City Commissioner Jim Bullington and West. Wow. This is great, Buchanon said. I always knew wed get this back. Buchanons predecessors agreed to help the museum make its bond payments, and he thanked them for that. West hadnt been as sure as Buchanon that the museum would pay its debts, he said. This is money I didnt think I would see in my lifetime, West said. The museum is a marquee draw for the city and the area, he said. It draws national and international attention. To see what has happened with this is incredible, West said. The museum is a perfect example of public, private partnership, Bullington said. It brings in thousands of visitors to the city each year, which increases sales for local businesses and brings in more taxes, Bullington said. The museum refinanced its debt into a $5 million bond issue scheduled to mature in 2014. The city, county and convention bureau are no longer obligated to provide any type of funding to the museum. It has been able to pay off its debt through memberships, admission prices, raffles and merchandise sales at the Corvette Store, Strode said. We try to be a good community citizen and we pledge to you that we will strive to continue to be a good citizen, he said. The museum was built for about $15 million. The Bowling Green Area Chamber of Commerce had 30 acres donated, valued at about $1 million for the project. A fund-raising drive came up with $2 million. Loans from several banks and a $4.3 million bond issue guaranteed by the city, county and the convention bureau paid for the rest of the building. Membership has grown to more than 20,000 members from 1,632 in January 1997. The museum is open daily from 8 a.m. to 5 p.m. Admission is $8 for adults, $4.50 for children ages 6 to 16, free for kids 5 years or younger; the family rate is $20 and senior citizens (55 or older) admission is $6.