|
News Releases 
The Children’s Theatre Company Remains Committed to $24 Million Expansion Project as Community Support Continues - McKnight Foundation joins General Mills Foundation, Star Tribune Foundation and Target Foundation as $1 million contributors; Private fundraising reaches $11 million 
For Immediate Release: June 6, 2002
Minneapolis, MN - Just as The Children's Theatre Company (CTC) reaffirmed its commitment to a $24 million expansion plan, CTC officials were notified yesterday of a $1 million gift from The McKnight Foundation. Previously committed $1 million gifts have come from the General Mills Foundation, Star Tribune Foundation and Target Foundation.
"We continue to receive extraordinary support from this community," said CTC managing director Teresa Eyring. "And, although we were certainly disappointed by the Governor's veto of our inclusion in the bonding bill, we are totally energized by this significant commitment from the McKnight Foundation. Clearly, we are moving forward with plans for the $24 million renovation and expansion of our theater, rehearsal space, classrooms and workshop areas."
CTC planned to finance the project through a public-private partnership, and sought $12 million in state bonding from the Minnesota Legislature. Legislators included $5 million for CTC in their bonding bill during the 2002 legislative session, but Gov. Jesse Ventura vetoed the funding.
In response to the veto, CTC is reviewing its financing plans, including its private fundraising targets. A decision about another bonding request has not been made, although according to Eyring, CTC meets every criteria set for the state bonding program - "we have a clear statewide impact; we serve a core mission of the state - education."
"We will not quit working toward our goal. Young people throughout Minnesota are asking to be involved with CTC. We don't want to turn them away. And, if we have to redouble our efforts with private partners, we will. We're confident of a positive outcome, and remain hopeful about eventual state funding." CTC artistic director, Peter C. Brosius said, "We are America's flagship theater for young people and families and we want to continue to maintain that standard for Minnesota families."
CTC officials said nothing will be cut from the project because it is a no-frills plan. Losing the state's participation this year will postpone the starting date for CTC's project and may extend the development timeline, but Eyring said CTC remains committed to the complete project.
"Fundraising is going well - we just passed the $11 million mark," said Eyring. "We will continue to work with individual donors and foundations around the state who recognize the importance of CTC in their communities."
The expansion and renovation will be the first for CTC's facility since it was built in 1974. CTC turns away hundreds of children from its education programs due to lack of adequate space. The expansion will include a 288-seat flexible theatre that will allow CTC to better serve teenagers and children younger than five. The remodeled facility will have dedicated classroom space and on-site rehearsal halls. Seriously outdated equipment and building systems also will be replaced.
Back to News & Reviews
| 
