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MADISON - City would get Overture Center 'for free,' but details scarce
Published June 23, 2010 - Wisconsin Morning Headlines
The city of Madison would get the $205 million Overture Center “for free” under a plan announced by Overture officials Tuesday, but details of what owning the facility would cost city taxpayers going forward were scarce. Overture officials and the three banks involved — JP Morgan Chase Bank, U.S. Bank and M&I Bank — have agreed to a deal to eliminate $28.6 million in debt, the biggest impediment to a stable financial future for the arts facility. But the financial deal is contingent on the city’s acceptance of ownership. The plan also depends on $15 million in contributions from a group of private donors.
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