Friday, March 18, 2005 | 11:14 a.m.
A $50 million gift to the proposed Las Vegas Performing Arts Center at Union Park will be the catalyst that will bring the arts to the people, project officials say.
A news conference was scheduled today at the Donald W. Reynolds Foundation office in Las Vegas to announce that organization's donation to the $200 million performing arts center slated to be built on 61 acres of vacant land in western downtown Las Vegas.
"This money represents what will be our endowment that will guarantee our future success -- an enduring building for future generations," said Myron Martin, executive director of what will be named the Fred W. and Mary B. Smith Center for the Performing Arts.
Fred Smith is chairman of the Donald W. Reynolds Foundation and was longtime general manager of the Review-Journal newspaper, which was sold to the Stephens Media Group after Reynolds' death in 1993. Smith also was president and chief executive officer of the Donrey Media Group until his retirement in 1994.
The money from the sale of the Review-Journal and the other papers in the Donrey chain went to the foundation that, since it was chartered in 1954, has given more than $861 million to projects. The gift to the performing arts center is the organization's largest single gift.
The first $5 million of the grant will be used for architectural design and other components to get the project off the ground, Martin said, noting that none of the money will be used for bricks and mortar.
The interest from the remaining $45 million, to be donated by the Reynolds Foundation over the next six years, will go toward upkeep of the property and the underwriting of tickets so that low income people, especially needy children, can enjoy performances at the center, Martin said.
The endowment also will be used for education-related projects in conjunction with the Clark County School District, Martin said.
Martin said his organization approached the Reynolds Foundation in November with the proposal.
"Any gift the board gives requires a lot of thought," said Christian Kolberg, spokesman for the Reynolds Foundation. "The board wants to make sure it will have a positive impact on the entity and individuals it serves."
Kolberg said what most impressed the board about this project was "the potential impact a world class performing arts center will have in Nevada. It is an opportunity for citizens, especially the kids, to enjoy the arts."
The center is being built on land donated by the city of Las Vegas. The Nevada Legislature approved a car rental tax that was implemented by the Clark County Commission to raise $85 million to build the first phase of the performing arts center.
"Today's announcement signals the start of private fundraising for the project," Martin said.
To date, private donations have included $1 million each from the Smiths; Don Snyder, chairman of the performing arts center foundation; and Kell and Nancy Houssels, longtime arts patrons and members of a pioneering Las Vegas gaming family, Martin said.
Also, he said, the Boyd Group plans to announce a major donation to the center.
"We want this facility to be the living room for Las Vegas," Martin said. "It will be a place for all of us to gather -- people of all backgrounds from throughout the valley.
"As we enter the community phase of fundraising we want the people to feel ownership, so the $5, $10 and $1,000 gifts also will be very important to our future."
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