The Chairman of Raymond James Financial wants to open a museum in St. Petersburg to show is his collection of Western and American Indian art:

As many as 600 works would be exhibited in the new museum, which would also have gallery space for changing shows.

The Jameses have been among the Tampa Bay area’s most generous philanthropists for decades, giving millions to many causes. Tom James has served on the Dalí Museum’s board of trustees and been active in the Museum of Fine Arts, and has a deep understanding of how a museum operates.

He said earlier that he arrived at $75 million for the new museum because “it took $40 million to build the Dalí, so that’s what I’m basing the building cost on. … I also plan to put $30 million to $35 million in an endowment.”

James, who wasn’t available for an interview Monday, has said that he estimates the value of his collection to be between $20 million and $25 million.

Raymond James chairman to open an art museum in downtown St. Petersburg (Tampa Bay Times)