After countless hours of debate Madison's Common Council voted 14-5 to approve a plan for private ownership of the Overture Center.
The approved plan will eliminate the Overture's $28.4 million debt with the help of donors.
Under the new model, the private, non-profit 201 State Foundation will own and operate the Overture Center.
201 State Foundation will consist of a 20 to 25 member board to assist in operations.
The city will provide a $2 million annual subsidy. The 201 State Foundation will take over the center on Jan. 1, 2012.
Under the approved plan, the jobs are guaranteed to the non-management staff of the Overture Center. The plan states Overture employees are no longer eligible for city wages or benefits.
Ald. Mike Verveer, District 4, added an amendment, which the council approved. The amendment permits Overture union employees to ""bump"" into other union positions before Jan. 2012.
Among the other alders that did not support the resolution, Ald. Marsha Rummel, District 6, said the proposed model did not address many other problems the Overture faces.
""I don't think anything on the table could satisfy me,"" Rummel said.
The final decision came before the reported deal made where the donors and banks were to expire before Dec. 30.
Prior to making a decision, council members held numerous meetings including the creation of an ad hoc committee and the hiring of an independent consultant.
