DPAC brings in the cash

November 5, 2009 10:49:37 AM PST
The City of Durham announced Thursday that the city's new Performing Arts Center is outperforming financial expectations.Officials said the city took in $401,706 in the first eight months of operation. They said that was more than four times the amount expected in the first full year.

The results were in a draft audited financial statement for the period ending June 30.

"That's truly great news for Durham, especially in light of today's economy," offered Mayor Bill Bell in a news release. "Our first season has been undeniably successful."

According to the financial statement, DPAC generated a net income of $1,004,265, of which 40 percent went to the city as part of the operating agreement.

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