GPAC Gets City Funding But Still Has $40 Million Left To Raise
The Greensboro City Council has allocated $20 million in funding for a proposed downtown performing arts center after months of wavering over what role to play in the venue. On Tuesday council members voted 6-to-3 supporting the money. If the performing arts center is built, all of that money will be paid back through the hotel/motel tax (pending approval from Guilford County Commissioners) and through ticket surcharges and parking fees.
The money is contingent on the Greensboro Performing Arts Center (GPAC) Task Force showing it has an additional $20 million of pledged support from the private sector. That $40 million would still be far short of the estimated total cost of $60.5 million.
Proponents of the downtown arts center point to an independent review that found that the city needs, wants and can support a new facility to replace the aging War Memorial Auditorium. Opponents of the measure question whether a new Arts Center could consistently draw the same acts as the Durham Performing Arts Center.
A leader with GPAC says it could take up to six months to collect the pledge cards demonstrating the additional $20 million in support.