CALIFORNIA IN BRIEF : SAN DIEGO : Symphony Given $2.5-Million Gift
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The San Diego Symphony received a $2.5-million gift from an anonymous benefactor. Symphonyofficials said the donation, coupled with the forgiveness of almost $2 million in bank loans, allows the orchestra to retire its $4.4-million capital deficit, the last remnant of the debt incurred in the purchase of Symphony Hall in 1984. In forgiving the debt, a consortium of banks headed by Bank of America required that the symphony retain ownership of the auditorium for 10 years. The symphony acquired the former Fox Theater in 1984, spending more than $6 million for the purchase and renovation. It began performing there in November, 1985. In the meantime, the organization was accumulating a multimillion-dollar operating deficit, which resulted in the cancellation of the 1986-87 season. A scaled-down orchestra returned to the stage with a shorter season in the fall of 1987.
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