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Former N.C. Governor's Dream Falling On Hard Times

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RALEIGH, N.C. — A performing arts center in west Raleigh was the dream of former Gov. Terry Sanford. It now appears to have fallen on hard times.

In an attempt to honor Sanford's last wish, former Gov. Jim Hunt signed a 5-year lease with the Performing Arts Institute to build in west Raleigh. The institute needs to raise $230 million in private donations, but only has $2,000 in the bank.

"We aren't going to take money until we are ready to almost start construction. We have well over $15 million in pledges that are hard pledges -- that are guaranteed pledges," said Tom Drew, of the Performing Arts Institute.

Drew says the institute has 3-1/2 years to raise the funds, but he said he is confident the donors will come through.