Credit Status Threatens Future of Arts Center
The City Council has voted not to renew the city art center’s $1.8-million annual credit line, after the facility logged nearly a decade of debt.
The refusal could close the California Center for the Arts, Escondido, art officials warned.
City Councilman Ron Newman, who cast the deciding vote Wednesday, said he was willing to reconsider his decision after he meets with arts officials next week.
The center’s credit line enables it to meet its financial responsibilities through the end of the fiscal year, with the exception of utility bills, which the city already is paying.
Council members would not approve the $1.8-million line of credit because they said the contract had been reduced to $1.3 million and the credit guarantee should match the lower amount.
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