Friday, September 04, 2015

SAPAC's Long Labor Continues

The Standard Times reported on efforts to bring to life San Angelo's Performing Arts Center in October 2011:

The coalition has raised $4.7 million in commitments from private donors and plans to raise a total $13.5 million to fulfill the vision, which includes upgrades to City Auditorium, a 300-seat theater in the warehouse, six ballet studios, offices and storage, rehearsal space and joint ticket facilities and a lobby big enough for parties.  The center is well on its way from vision to its projected completion in January 2014..
The auditorium languished as work went ahead on City Hall and infrastructure improvements to support the auditorium.

A project change order and planning issues have put the $9.1 million renovation of San Angelo City Hall and the "Old Library" building a few months behind schedule.

The project is being funded through a variety of sources: a $1.7 million bond backed by general fund revenue (i.e. sales and property tax and fees), $865,000 in stimulus funding, $974,616 from the federal Community Development Block Grant program and $7.5 million in new debt issuance.
That's over $10 million in funding without the auditorium.   Since 2011 not much has changed, other than the city kicking in an extra $4 million, $2.5 million from City Council and $1.5 million from COSADC.:

The project has an estimated price tag of $15.2 million under the supervision of Lee Lewis Construction Inc., about $1.8 million of which has been funded and completed.

About $7.1 million in funding is secure through tax dollars, fundraising efforts by SAPAC and a $2.5 million donation for naming rights. The city of San Angelo Development Corp. allocated $1.5 million for the annex project, ratified by the council Tuesday, leaving only the money put on SAPAC’s tab.

City officials are confident SAPAC can raise the $3.1 million.
SAPAC has sixty days to raise a good chunk of the $3.1 million. It will be interesting to see the final tally of private vs. public money for this project.  It's taken four years to get this far.  The projected opening is now Spring 2017.

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