2022 Annual Comprehensive Financial Report

use venue with diverse programming for all ages, provides educational opportunities for families through exposure to high quality performances in a local setting. Inside the Tanger Center are large lobbies, grand stairs, multiple elevators, pre-functionary spaces, a patio overlooking Lebauer Park and an expansive backstage working space to support the largest Broadway and traveling performing arts shows. The Tanger Center includes a first class performance line array sound system, an electronic acoustical enhancement sound system for symphonic events, and an LED lighting stage plot to bring the latest in technological enhancements to the state-of-the-art facility. The City plans to pay the debt service associated with such financing from a portion of the County’s hotel/motel occupancy tax revenues, ticket fees and parking-related revenues. The Tanger Center opened its doors to host its first event in September 2021 followed by an award winning lineup of national touring Broadway plays, major concerts and events, and comedy and family shows. During the Tanger Center’s inaugural year, it welcomed 431,092 patrons, 17,414 Broadway season seat members, 221 events and performances and 89 sold out shows. The Broadway performances of Wicked and The Lion King alone generated economic impacts of $11 million and $12 million respectively.

The footprint design of the Tanger Center has been coordinated with the new LeBauer Park, a $10 million privately built facility that was gifted to the City and opened in August 2016. The park site is in proximity to the Tanger Center and features the largest outdoor art sculpture in the Southeast, funded by a $1 million dollar grant and designed by internationally recognized artist, Janet Echelman. The park includes a 17,000 square foot event lawn space with its aerial sculpture, a children’s garden with reading materials from a book cart, an interactive water feature that serves as an ice skating rink in the winter, and a dog park equipped with specially engineered turf and anti-microbial backing. The garden pavilion can accommodate concerts and other events with a nearby putting green where visitors can practice their golf skills. This entire project is considered by many to be a key component to vibrancy of the arts community as a whole in the City. Greensboro was selected from among thirty-two applications to host the annual National Folk Festival from 2015 to 2017. The free, three-day outdoor event attracted roughly 400,000 visitors over its three-year run, generating an economic impact between $12 to $15 million per year, based on audience surveys and other data. The 2017 event drew more than 162,000 attendees, an increase of 58% from 2015. The legacy festival included over 30 acts of music, dance, and other events at seven locations across downtown Greensboro. The event also

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