Boston Looks To Rebuild Tea Party Museum

The Boston Tea Party is one of the most famous events in U.S. history, yet the only thing that marks the spot these days is a plaque.

The Massachusetts Convention Center Authority, the city of Boston, and developer Historic Tours of America have teamed up to change that, announcing a financing deal that will rebuild the museum along with the three ships involved when colonists angry over British taxes dumped tea into Boston Harbor.

There was a museum in the Fort Point Channel at the sight of the 1773 Tea Party, but it burned down in 1991. Efforts to rebuild have stalled.

The new $25 million museum will be financed with an $18 million loan to Historic Tours from the convention authority, and $3 million from the city. It is expected to open in the spring of 2012.