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Friday, March 29, 2024
Overture Center reported as being in 'very good' condition

overture

Overture Center reported as being in 'very good' condition

The Overture Ad Hoc Committee reported the Overture Center as being in ""very good condition"" structurally at a meeting Thursday as the city of Madison looks into purchasing the center.

Fiscal Efficiency Auditor Andrew Statz presented the estimated capital costs of $19.3 million over the next 15 years for the center at the meeting. Within his presentation Statz outlined how some financial negotiations are still needed to be made to determine the responsibility of some building systems and features totaling at $4.36 million.

The presentation estimated the city, if purchased the center, would be responsible for $9.78 million and the operator responsible for $9.54 million. This is only under the assumptions the negotiable expenses are split evenly.

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The owner would be responsible for ""what makes the building a building"" whereas the operator would be responsible for ""what makes the building a performing arts facility,"" according to Statz.

Statz said the Overture Center is consistent with its age and use as it opened in September 2004.

""There is truly no other facility like it,"" Statz said.

However, there were repairs and issues brought up during the presentation.

Out of any of the repairs, the most notable are the issues with the steam boilers because of their frequent repairs. They have been repaired three times since being installed in April 2002 even though each has a life expectancy of five to 10 years. The most recent repair was in July.

Repair work on the boilers after the warranty expires in March 2011 could average out to be $10,000 per boiler according to Statz.

It has been proposed the city would assume ownership of the facility for $1 provided the city undertakes the long-term maintenance of the Overture Center.

The facility study responded to the Common Council's inquires on the current condition of the Overture Center and what will the long-term capital costs be for the center.

""No one in this room wants to see the Overture fail. There's too much at stake,"" said Overture Center President and CEO Tom Carto said.

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