Organizers revealed Monday that Boca Raton’s Center for Arts and Innovation — a planned arts-oriented destination featuring many attractions — is millions of dollars behind in fundraising, drawing criticism from city officials.
The center, which is intended to be an extensive performing arts center at the north end of Mizner Park, was supposed to have raised more than $50 million by now, in order to be on track, according to city documents.
But during a public meeting on Monday afternoon, CEO Andrea Virgin told City Council members that about $32 million has been raised in “documented pledges” from donors, with about $8 million of that in “cash-on-hand” funds.
Virgin said “key donors” needed more time, explaining why the fundraising goal hadn’t been met. “This is not a setback, and this is not a result of anyone’s missteps,” she said. “It is merely a reflection on what we have learned from our donors.”
As Virgin has provided period updates on the center — such as the unveiling of the center’s design plans in April and the architect announcement in September of 2023 — discussions of finances have been kept confidential. So Monday’s meeting was a rather rare public discussion of specific finances.