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.