At the all-hands DMTC meeting on Sunday, we wrestled about what to do regarding the delay in building DMTC's New Theater. Harrison Construction, in a burst of prudence, wants to be assured at least half ($450,000) of the necessary additional money ($900,000) will be available before finishing the theater. The New Theater is roughly 40-50% complete now, and could be completed in about a month if half the total money were available. If Bank of America had followed through on naming rights, we'd be close to that goal now, but now we have to be innovative.
One trouble is deciding exactly how optimistic to be. Pessimism and panic never helps under these circumstances, of course, but neither does the false optimism we've comforted ourselves with so far. We've been reaching for euphemism too (calling it a 'construction delay,' when it's actually a 'money delay'), but as became clear at the meeting, euphemism only works when everybody is on the same page, and has the same facts available to them. Euphemism is OK for the Board and close friends, but to outsiders it sounds like evasion. We must be careful.
We'll have to explore financing options. As the Treasurer, I'm pretty confident we have community resources and goodwill from which to draw, but we can't delay too many months, or else the extra expenses associated with new theater construction, plus the inability to cut off old expenses, will be become burdensome to the company. Sounds like its time for someone to:
- get an inheritance;
- win a jackpot; or,
- release a popular hip-hop video (maybe the YPT kids?)
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