A city-backed proposal for a new performing arts centre in Kamloops suggests placing the venue in a downtown building to the tune of $90 million.
The city unveiled the preliminary report last week at a public event, outlining a complex in the former home of the Kamloops Daily News housing a 1,200-seat main theatre, 350-seat black box theatre, two rehearsal halls and underground parkade.
Like Prince George, Kamloops also has existing performance spaces, one traditional theatre owned by the city and school district and one within a hotel conference centre. There is also the Interior Savings Centre arena and a studio theatre mainly used as a rehearsal space for the Western Canada Theatre Company.
The estimate for the centre, without the two-level parking garage, comes in at a little more than $61 million. The same type of high-level estimate for the Prince George PAC - which could contain an 800-seat theatre and 200-seat studio theatre - was $51 million, in 2017 dollars.
The Kamloops report suggests local funding for the venue would come from an annual one per cent property tax increase, on-street parking revenue and gaming funds. After applying other reserve funds and collecting $10 million by getting grants and selling naming rights, the city would still have to borrow nearly $50 million.
