LITTLE ROCK, Ark. (AP) The Arkansas Arts Center is preparing to receive tens of millions in taxpayer-approved bond funds to overhaul its museum in Little Rock.
The Arkansas Democrat-Gazette reports that the project’s estimated $46 million price tag covers only “hard” expenses, meaning the actual cost when including architects’ and consultants’ fees will be higher.
Officials say a mixture of the $37.2 million bond package and some $50 million in private contributions will cover the expansion’s cost.
The Arts Center, which has retained an architectural team, engineers and consultants, has begun racking up costs on the project but has not spent public money. Instead, the museum’s nonprofit foundation, which owns the museum’s artwork and controls its endowment, is covering the bills.
Voters agreed to the bond sale in an election 15 months ago.
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