A conversation with Seattle
Burgess admits that a belated discovery means it’s not so simple for city to get out from under Pacific Place: “For various reasons, our garage debt cannot be paid off directly — or ‘called’ in the language of the bond market — until late in 2017. That leaves us paying the bonds’ 5 percent interest rate in the meantime.” Continue reading City’s Sale of Pacific Place Parking Garage Doesn’t Pencil Out, Says Burgess
But with Washington State facing a $1.3-billion budget deficit, the mood has changed substantially at the Capitol: “Conversations have gotten increasingly pessimistic,” Margaret Shepherd, director of state relations for the University of Washington, told the Seattle Times. “Legislators are telling us no new cuts would be a victory.” Continue reading Student Loan Debt Will Bury Us All, Spring 2013 Edition
Those pessimistic about the Intiman’s chances said, At least we’ve still got ACT, referring to A Contemporary Theatre’s revival from a near-death experience in 2003. But not so quick. “We’ve turned the boat around,” ACT’s executive director Gian-Carlo Scandiuzzi told me on the phone, “but we haven’t gotten it back to the dock yet.” ACT hopes to close this year with its second balanced budget in a row, but the theatre owes some $2.7 million in debt obligations. It’s in the third year of a five-year plan to repay part of that debt. Continue reading ACT’s Gian-Carlo Scandiuzzi on How to Reinvent Your Theatre