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Arts center project expanding goal to $338 millionPERFORMANCE: Parking, facility upgrades planned12:00 AM CST on Wednesday, January 30, 2008The board of directors of the Dallas Center for the Performing Arts announced this week that the project is being expanded, triggering an increase in its fundraising goal from $275 million to $338 million. Enhancements include a second underground parking garage and additional improvements to the Margot and Bill Winspear Opera House and the Dee and Charles Wyly Theatre. The center recently passed its initial objective of $275 million, when Nancy Hamon's $10 million gift put the donation total at $277 million. Bill Lively, president and CEO of the Dallas Center for the Performing Arts, said Tuesday that the organization's fundraising prowess inspired the request to seek 23 percent more for what he called much-needed improvements. "When we realized that we would achieve the original $275 million," he said, "we were ready to make a recommendation for the board to increase the goal to build more stuff. "We examined ourselves – this city – and what we think our potential is to raise remaining funds in the private sector to achieve this increase. And we shared with our board what that potential is and how reliable it is," he said. "So, in the context of our success and that potential, the board made that decision to go ahead and do the increase." Mr. Lively said the board opted for capital improvements instead of increasing its endowment to cover general operating expenses, noting that the latter would be sought more aggressively in 2009. "If we didn't build all of these things that this scope increase represents – now – we might not build them in the near term. If we build the stuff now, it's less costly and we do it in the context of the rest of the campaign. If we delay anything, it's going to cost more later on. There's no question about that." He cited as noteworthy the decision to "upgrade to the rehearsal hall, making that a first-class recital hall named for Nancy Hamon," whose recent $10 million donation made the rehearsal space possible. "Because that facility now can be used for teaching and many events, and it'll be a major revenue generator to help support the center's operation," Mr. Lively said. "That's very important." He said the addition of a second arts center garage was also significant. "As we all know, there's not enough parking in the entire Dallas Arts District today for everything that happens down there," he said. "And so, building one more garage is as much of a safeguard to address that condition as we can afford."
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