Arts Council repays first loan

Apr. 10, 2013 @ 05:46 PM

Let the flames begin. Let it burn. The High Point Area Arts Council is on fire.
Through public and private donations, High Point Area Arts Council has paid off its first loan and representatives celebrated by burning a copy of its the note.
Jim Morgan, chairman of the Arts Council, and Debbie Lumpkins, executive director, burned a copy of the note of their $250,000 loan.
“It’s an exciting day for the Arts Council, but also for High Point,” Morgan said. “We now have a home, not only for the arts, but for our community to celebrate.”
Purchase price for Centennial Station was $860,000, and loans were secured for $731,000 and $250,000.
The Arts Council still owes $709,967 on its other loan.
Morgan has made requests for the entire $1.6 million, and he has asked two entities for $500,000 each. Centennial Station would be named for the two groups.
So far, major donations include $100,000 from High Point University and $200,000 from Guilford County in 2012. Morgan has made additional requests for $200,000 and $100,000 from two entitles, and those donations would complete the $1.6 million.
Already rooms and areas at Centennial Station have been named for the following donors: High Point University; Ann and Jim Morgan (two areas); Sparky Stroud, in memory of his mother Nadine Sizemore Stroud; and the Burrow family in honor of Ray and Nadine Burrow. | 888-3617Arts Council repays first loan