Finding A Way To Pay For Greensboro Performing Arts Center

6:25 PM, May 23, 2013   |    comments
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Greensboro, N.C. - Greensboro City council members do not want any property tax dollars to go toward a new Greensboro Performing Arts Center. So, where will the money come from?

The city is pledging $20 million but $10 million will come from hotel/motel taxes. The other $10 million will come from user fees, like parking deck fees and ticket surcharges.

The rest of the funding will come from donors. So far, Lorillard has donated one million dollars. The Phillips Foundation has pledged three and a half million. WFMY News 2 has learned another major donor announcement is coming next week.

Why does Greensboro need a performing arts center? City leaders say it's about culture and bringing more people, companies and jobs to our area.

"Property taxes are not increasing. The number of people coming into our community and buying property is not increasing. The number of corporations and businesses coming into our community is not increasing at a level that is adding to our property tax base," City Manager Denise Turner Roth said. "Ultimately, what we're looking at, is what is going to move this downtown forward? It's the heartbeat of this community. What is going to make a change? What is going to create new opportunities?"

However, city leaders do not want to create a place that most of us won't use.

"The whole premise behind the GPAC is to have a community building that the community can experience. We can have community tickets that are discounted. We have programs the community can participate in. Absolutely everybody should be able to go in," City Council Member Zack Matheny said.

GPAC just hired someone to help with the fundraising effort. A public campaign inviting average citizens to donate is also in the works. GPAC estimates it will raise $20 million by this summer.  

Read: Location Chosen For Proposed GPAC

Read: GPAC Releases Economic Impact Report

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