Newsletters
The Kennedy Center for the Performing Arts in Washington, D.C. is nearing financial collapse and may be forced to shut its doors within days, according to US media reports from Sunday that cite financial records obtained by The Washington Post.
According to the report, new officials appointed by President Donald Trump said the financially troubled center could close its doors sometime this week and suggested that adding Trump's name to the center could be "the only way to avoid bankruptcy."
The officials said that after Trump's name was added to the center, the president could accelerate fundraising efforts on its behalf, potentially saving the performing arts institution.
A 57-page report distributed to members of the board of trustees last Tuesday painted a bleak picture of the center's finances and current financial condition.
Center officials said that without a quick solution, they could be unable to pay staff salaries and cover routine maintenance contracts within a few weeks. The officials argued that publicly honoring Trump could secure his help in raising enough money to keep the institution afloat.
In February this year, Trump first proposed closing the center for two years, saying that an empty building would allow teams to complete renovation work more quickly.
The board of trustees approved the plan in March. In May, however, U.S. District Judge Christopher Cooper blocked the closure, ruling that the board had relied on insufficient information and had not adequately considered the consequences.
The board was allowed to reconsider the issue after conducting a more comprehensive review. The board of trustees met on Aug. 13 and approved a two-year closure as part of an approximately $250 million renovation project.
Trump also took steps in May to rename the center the Trump Kennedy Center, but the initiative was thwarted by Judge Cooper, who ruled that only Congress can change the name of the center.
Set as preferred source
Set as preferred source
1 min read
