HomeMy WebLinkAbout19931026_Foundation ltr to First Wave Members/40L.-
FOUNDATION FOR THE
PERFORMING
ARTS CENTER
October 26, 1993
Dear First Wave member:
As you know from my last letter, bids for the
Performing Arts Center came in $4 million over budget. By
taking the deductive alternates --items we can live
without, many of which can be added later --and obtaining
an inflation adjustment on the State's share of the
project, we brought the shortfall down to $2.8 million.
In the past few weeks we have been working hard with
our partners to gather additional funds, and I am happy
to report that we have identified $1.6 million, leaving
a shortfall of $1.2 million. We need to have this final
amount in hand by November 26th to enable us to award a
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construction before year-end.
If the three partners are not able to obtain the
final amount needed, the architects will have to redesign
the facility at their own expense to bring it within
budget. We wish to avoid this approach unless absolutely
necessary because it will cause a delay of eight months
to a year and the actual cost savings a redesign will
produce are uncertain until bids are received. For these
reasons, I truly believe it is important for us to move
forward now.
The response to my recent letter and this current
challenge has been truly gratifying. A member of our
Board of Directors, already a supporter at the Founder
level, called last Friday to make an additional major
contribution. A number of First Wave members have
telephoned or written to say that they will make a gift
to the construction fund to help out. One First Wave
member wrote me with these words, "no it! We will
contribute an additional $2,500. It won't be easy with
three kids in college, but we will find a way."
P.O. Box 1137
San Luis Obispo
California, 93406
805/541-5401
Fax 805/781-3484
a c,=o C a.
from John Dunn
It has been a long and sometimes bumpy road since we
began The Center Campaign in March 1990, but the
encouragement we have received in the past few weeks
makes it all worthwhile and provides us with the
wherewithal to continue the journey.
Please consider a gift to the construction fund
before the end of next month and let us know by telephone
or letter now so we can include your contribution in
"gifts anticipated to meet the shortfall.".
If you have any questions or suggestions, please let
us hear from you. My telephone number is 541-2800, and
Jim Jamieson, our Executive Director, can be reached at
541-5401.
'ncerely,
r
f
n A. Sinsheimer
President