Flat floor format.
Greensboro, NC - A project that supposed to be a money-maker for the city of Greensboro, could cost citizens big time for the first two years.
The research was based on three year operation data. The study estimated that Greensboro Performing Arts Center (GPAC) would have 149 public events and a total audience of 293,100 on average annually.
Those projections show initial operating losses of $174,000 and $188,000 in years one and two. In year three GPAC is projected to have a gain of $22,000.
But the GPAC taskforce and other community leaders want peole to remember this is an investment into the community.
"Times are tough and yes we need jobs. The ecomony is not great by any means but this is when you build your infrastructure. And a performing arts center is a piece of infrastructure," said Keith Holliday, Carolina Theatre.
"The number that we really need to focus on is the long-term impact, from having this faculty in Greensboro...that's what we should be focusing on is $7 to $10 million dollars," said Ross Harris, GPAC Task Force.
News 2 is told, this is conservative data or a worst case scenario. The task force was asked to give more conservative research to city council.
City councilmember's will hear recommendations from the GPAC taskforce on Tuesday.
The study was complied by a private company out of Fairfield, CT. The organization is called, AMS Planning & Research Corp.
Note: "Projections represent a forecast of the most likely results of operation and are based on current conditions and forecasts of use. some time. This forecast is not a budget and it must be recognized that the utilization estimate is not an exact schedule of activity, given that the building is still in design and will not open for changes are to be expected and the forecast should be revisited periodically." - AMS Planning & Research Corp.
News 2 spoke to Mayor Robbie Perkins, who said operating losses are a part of doing business. Perkins believes that GPAC is needed because Greensboro, the third largest city in North Carolina, has to remain competitive with other cities.
The new arts center would cost $60 million to build, with $20 million coming from private donations. The remainder of the funds for the building would come from the city and county, some potentially from the Guilford County hotel/motel tax.
The Greensboro City Council will have a final say on the proposed arts center in January when council members vote on whether or not to support and build it.
If they vote to build it, the new arts center could be completed by 2016.