Board receives findings from performing arts center feasibility study
HOT SPRINGS – The Hot Springs Board of Directors heard a presentation Wednesday regarding a feasibility study for the development of a performing arts center in Hot Springs, Ark.
Dan Martin of Market & Feasibility Advisors, LLC (MFA) of Austin, TX and Chicago, IL, presented their findings in a 104-page study,concluding that the project is “market feasible” but not financially feasible.
The primary measure of feasibility is whether the center’s user groups could pay facility-use charges in full support of the facility’s operating costs, while a blended source of government and philanthropic support would provide the initial capital development costs.