Orange County Mayor Teresa Jacobs announced Monday, an additional $25 million in funding for the new Dr. Phillips Center for the Performing Arts to assist with the completion of Phase 2. These new monies come on top of the county’s current $138.6 million funding commitment, for a total of $163.6 million.
In boosting the county’s commitment to DPAC, Jacobs said it was possible due to the increase in Tourist Development Tax receipts and it is a good use of these resources.
“This will put us within sight of the finish line, and closer toward completing the entire project, including the final portion of the Center,” said Jacobs. “As Mayor, I am deeply committed to prudent fiscal performance, and the wise use of our tourist development tax dollars. Without question, moving directly to Phase 2 makes financial sense.”
The $25 million in funding from the county comes on the back of a $10 million gift DPAC received last week for Phase 2, which will go toward constructing the third theatre.
The Center still needs to raise another $40 million in donations in order to complete Phase 2.
