Four business leaders chosen to lead fundraising for downtown Rochester PAC
Rochester, N.Y. (WHAM) - Four big names in Rochester-area business and development have been chosen to lead the fundraising campaign to building a performing arts center and mixed use space in downtown Rochester.
On Wednesday, Naomi Silver, David Flaum, Elaine DelMonte, and Tom Bonadio were announced as co-chairs of the Capital Campaign Committee for the Golisano Performing Arts Center.
In April, the City of Rochester announced the Golisano Center for the Performing Arts and Tower will be built in the space on East Main Street known as Parcel 5. Housing, retail shops, restaurants and parking will be built up on the parcel of land left vacant after the demolition of Midtown Plaza was completed in 2011.
The performing arts center itself is estimated to cost $85 million; $25 million of that funding has been pledged by Paychex founder Tom Golisano.
The project is a co-venture between Morgan Communities and the Rochester Broadway Theatre League (RBTL).
Bonadio serves as CEO and managing partner of the Bonadio Group, while DelMonte is associated with the DelMonte Hotel Group. Flaum oversees Flaum Management, which manages many local commercial properties; Naomi Silver is the current president and CEO of the Rochester Red Wings. All four individuals serve on various boards and work with non-profit and volunteer organizations in the Rochester community.
Mayor Lovely Warren said 776 construction and permanent full-time jobs will be created as a result of the project. Of those, 610 jobs would be construction jobs; 166 permanent full-time jobs would be added for the PAC and tower.
RBTL said it would not require an operational subsidy to run the PAC at the site. And while, the theater portion of the development would not be a taxable property, the tower portion of the development would be.