Members of the Madison Common Council and the Overture Ad Hoc Committee toured the Overture Center Monday to assess the potential costs of maintenance in the city's decision about taking partial ownership of the building.
The tour took the committee and council members through the Overture Center as the committee will make recommendations to the Common Council concerning the future of the building.
After the tour, some city officials were apprehensive about the potential costs of this undertaking.
""I have doubts about the situation, but I think there's very few options for the city at this point besides to step forward,"" Ald. Bridget Maniaci, District 2, said.
If the council does not make a decision by January 2011, the center's debt will not be forgiven, according to Chief of Staff to Mayor Dave Cieslewicz Janet Piraino.
""I am very dubious at this point,"" Ald. Chris Schmidt, District 11, said. ""The overall cost is very high. I'm not sure we know what they all are. And the time frame to make a decision on it is just too short.""
The Overture Center currently has a $28.6 million debt. In June, Overture officials said this debt had been resolved with donors offering to provide $15 million and the banks forgiving the remaining debt as long as the city accepts partial ownership of the center.
""The alternative to the city taking over the building ... banks could take it over, or they could foreclose and we don't want that happening,"" Piraino said. ""[Cieslewicz] feels he can justify public investment in maintaining a building that's this incredible.""
Cieslewicz supports the city takeover of the Overture Center's maintenance costs and is optimistic about this proposal, according to Piraino.
The committee is responsible for making recommendations to the council concerning the allocation of funds for the aspects of the center's maintenance, which the city would pay under a new ownership proposal. A separate non-profit entity would cover the operating and arts-related costs of the Overture Center.
The committee is set to meet Friday before submitting a final report to the Common Council by the Oct. 13 deadline.
