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Palladium celebrates scorched mortgageBy DEBORAH HIRSCH© St. Petersburg Times published April 17, 2002 ST. PETERSBURG -- Mortgage payments for the nonprofit Palladium Theater were carried away like ashes in the wind, thanks to donations taken in at a "mortgage burning party" Sunday. The mid-sized venue, created about three years ago in a renovated church, took in about $80,000 from the party and $40,000 in matching funds from an anonymous donor. The fundraising party was the final push to eliminate the Palladium's mortgage, which corporate and individual sponsors had helped reduce from about $450,000 to $100,000 since the theater opened more than three years ago. "It really is a very important asset to the community in fostering the arts," said Brian Reale, Palladium board member. The "mortgage burning party" was the third and most successful of the Palladium's fundraising events. About 100 people donated a minimum of $150 to attend the party after the Central Florida Lyric Opera's final performance of "Three Tenors Plus One." The reception included a ceremonial burning of a fake cardboard mortgage. The Palladium honored 12 donors with free show tickets and named theater seats. Seven donors who gave $2,500 or more were also recognized on a wall plaque. Almost 85 percent of the Palladium's $350,000 yearly operating costs come from donations, said Paul Stavros, executive director. Rental fees are kept low to allow smaller groups affordable performance space. Schools can use the building for free, nonprofits pay $300 to $500 per night and for-profit groups pay $800. Average ticket prices run from $5 to $10. "It's been able to generate kind of a momentum for local performance artists who up until the Palladium opened really didn't have a place to showcase their work," Stavros said. A group of six arts supporters purchased the First Church of Christ, Scientist at 253 Fifth Ave. N for $575,000 in June 1998. It took $300,000 worth of renovations to convert the building into an 880-seat performance space with professional lighting equipment and a ceiling sound shell. About 160 dance, music and theater performances take place on the Palladium's stage each year.
 © 2006 • All Rights Reserved • St. Petersburg Times
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