Fundraising For Orlando’s New PAC Falls Short

Yet another venue hit by fallout from the financial crisis: the Dr. P. Phillips Performing Arts Center, budgeted at $408 million and scheduled to open in 2012 in downtown Orlando. “While supporters have been able to raise $86 million in pledges, they are still short by $45 million. The center needs to raise $25 million by 2010 and another $20 million after that. […] [D]onors typically pledge money over a three to five year span. So the center has had to borrow money to get the new facility off the ground.”