Early reports are that the Greensboro City Council will vote to fund no less than $20 Million Dollars in non voter approved bonds in December of 2012 to fund the construction of a downtown performing arts center.
Sources are telling me the rush is on as Council currently has the votes necessary to pass the resolution and with the possibility that several council members might soon be leaving their seats. GPAC supporters are getting nervous that any more delays might mean the vote could fail in the future.
While the cost has been assumed to be $60 Million overall, no one knows for certain what the final cost might be so supporters will push through for a second bond to finish the project rather than allow an unfinished folly to stand in the middle of downtown.
Personally, I'm thinking the cost will be closer to the $72 Million first quoted a year ago or possibly as high as $80 Million Dollars with repairs necessary in 1 to 3 years.
Where the other $40 Million Dollars is coming from is anyone's guess as no one has shown us any money to date. They can't even find the $200,500 the City of Greensboro has already invested.
