Greensboro, NC - On Tuesday, the Greensboro City Council reduced the bond amount they will consider for the New Greensboro Performing Arts Center (GPAC) in downtown Greensboro.
The City Council is considering a now reduced $20 million bond before voters this November to help pay for this new performing arts center in downtown. The council along with the GPAC Task Force got its first look at the possible location and what the building could look like on Tuesday night.
The 3,200 seat GPAC would be located at North Elm and Lindsay streets. It could lay where the Greensboro Inn currently sits along with several other buildings.
The cost of the building has gone down from $50 million to $43 million.
"Why we don't have check in the bank? We do have every reason to believe the number of new inviestments at this point and time is over 13 million dollars," said Ross Harris, GPAC Task Force.
But it's not clear where the remaining $10 to $20 million would come from.
"The city is working on plans of what those options might be," said Harris.
The next Task Force meeting is at 8 am on Thursday in the Haywood Duke Room of Holy Trinity Episcopal Church at 607 N. Greene St.
The final council vote to approve any proposal will be on June 26th. All meetings are opened to the public.
If the plan is approved and voters okay the measure, Matt Brown at the Greensboro Coliseum say the building could be opened by the Fall of 2015.