Consultant cautiously optimistic about Tateuchi Center

An independent consultant reported to Bellevue councilmembers Monday that raising up a successful performing arts center will be difficult, but not impossible.

By Brandon Macz • February 13, 2015 12:20 pm
The Bellevue Arts Commission has completed a logistical review of how the city may be able to partner with the not-for-profit group behind the Tateuchi Center to accomplish its capital financing goals for constructing the performing arts center.
The Bellevue Arts Commission has completed a logistical review of how the city may be able to partner with the not-for-profit group behind the Tateuchi Center to accomplish its capital financing goals for constructing the performing arts center.

An independent consultant reported to Bellevue councilmembers Monday that raising up a successful performing arts center will be difficult, but not impossible.

The council commissioned B Squared Consulting to analyze the current and future financial position of the Performing Arts Center Eastside and suggestions for steps the city could take if city council decided to invest in the project to make the long-awaited Tateuchi Center a reality in downtown Bellevue. That work started in November.

B Squared principal Steven Bronfenbrenner said a statement of support from the city is critical to instilling confidence in the private sector, which is where the PACE board is looking for the lion’s share of a $138.4 million construction funding shortfall to complete the center.

PACE has raised about $65 million since 2002 — donations slowing immensely during the recession — and is now reenergizing its fundraising efforts and working to double its board members.

Bronfenbrenner proposed design changes for the Tateuchi Center to realize cost savings, as well as creative solutions to tackling an estimated annual operating budget deficit of $750,000 that is expected to drop to $250,000 by year five.

Removing a cabaret space component in favor of an education center will reduce costs and increase revenue under this plan, Bronfenbrenner said. That alteration was proposed by PACE executive director John Haynes. It also provides space for community engagement, education and programming. PACE has gained interest from the Seattle Symphony and Pacific Northwest Ballet in using its 2,000-seat performance space, anticipating about 60 performances annually by various groups. Bronfenbrenner cautioned Seattle will continue to hold the market for Broadway productions.

While an initial spike in revenue is projected for PACE presentations, rental revenues at the performing arts center are expected to remain flat.

City Planning and Community Development Director Chris Salomone said the council will receive another presentation about the pros and cons of continuing toward a possible partnership for funding the Tateuchi Center in late March.