Jan 10, 2008 9:36 pm US/Eastern
New Donation Leads To New Name For Carnival Center
Adrienne Arsht Has Donated $30 Million To The Center
It's The Single Largest Donation In Center's History
New Name: Adrienne Arsht Center for the Performing Arts of Miami-Dade County
MIAMI (CBS4) ―
The financially troubled Carnival Center for the Performing Arts has received a large donation and a new name.
With a $30 million donation from TotalBank chairman Adrienne Arsht, it will now be called the Adrienne Arsht Center for the Performing Arts of Miami-Dade County. The donation is the single largest financial gift in the center's history. Arsht is known for being a national business leader and philanthropist.
"Today we are Act I, Scene I. Are you all ready? Curtain up, let the show begin," said Arsht.
Arsht also helped fund the salary for the center's interim president and CEO Larry Wilker. Arsht collaborated with Wilker fifteen years ago when he was CEO of the Kennedy Center for the Performing Arts in Washington and she served as chair of Kennedy Center Productions, Inc.
The center will receive the donation over the next three years. The money will be used to fund programming and pay off a bank loan.
"With this landmark gift, Adrienne Arsht puts Miami's performing arts center on a whole new sound financial footing ensuring the long-term stability of the center and positioning it to truly fulfill its mission," said Sherwood Weiser, Foundation Chairman Emeritus. who negotiated the deal along with Trust Chairman Ricky Arriola.
The Carnival Corporation agreed to relinquish the naming rights in favor of this new major donation and Carnival will be refunded $2 million with the termination of their ten-year, $10 million commitment.
Arsht, who has been a strong supporter of the Center since its inception and has been a supporter of the arts for many years said, "I hope this gift inspires others to act on behalf of their passions, whatever they may be, for the greater good of the global community."
The Performing Arts Center opened in October 2006 at a cost of $461 million. It was years behind schedule and about $100 million over its budget.
The center, owned by Miami-Dade County, was designed by Cesar Pelli and financed mostly with public funds supplemented by private donations including $20 million donated by the Arison family, founders of Carnival Cruise Lines, for the original naming rights.
The center, located on Biscayne Boulevard in downtown Miami, includes a 2,400-seat opera house, a 2,200 seat concert hall and a 200-seat black box theater. The center was supposed to redefine Miami's cultural life, say leaders of the Performing Arts Trust but the financial problems, unappealing programs and parking issues have overshadowed concerts, plays and other performances.
It ended its first year, in October 2007, with a $2.5 million operating deficit due in large part to slow ticket sales and management problems.
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