The 2013 adopted budget authorizes $1.75 million in payments to the Overture Center Foundation consistent with the proposed annual performance contract. This proposed contract also moves the date of the first of two payments from March 1st to January 2nd. This should have minimal impact on city cash flows and investment earnings.
Authorizing the Mayor and City Clerk to execute an Annual Performance Contract with Overture Center Foundation, Inc. for the 2013 operations of the Overture Center, and providing for a grant from the City.
On December 14, 2010, the Common Council adopted Resolution No. RES-10-00996, File No. 20248, (the “2010 Resolution”) acknowledging private ownership and operation of the Overture Center, establishing a City commitment to future grants to Overture subject to annual appropriation, and setting forth the terms and conditions for such grants. The 2010 Resolution also authorized the City to enter into a long-term Structura...Click here for full text