The city already has money set aside from before. The mayor’s budget proposed we reserve 5M more. The firm is looking to raise up to 5M through donors. Whatever is raised the city will get to keep. I am confident they will secure large donations. They raised the funds for the Eccles theater in SLC. This has always been the plan. No sense in flinching. The serendipity is that the city received 5M in ARPA. The city had planned to put that in a rainy-day fund. Well, tut tut, it looks like rain. Seems meant to be. This renovation would be done if not for Covid. That is the whole point of ARPA finding.
Studies show the arts are an economic driver. This theater will be a revenue-generating asset. Someone at the city thought maybe we should cut this funding for the arts. Saw it as superfluous. By this logic, we could save money by cutting parks and libraries, the senior center, and the rec center. Maybe it would save the city time and money, but who would want to live here? Where do we draw the line?