Changes

When the renovation project was initially approved in February [[2005]], it was estimated to cost around $9 million: $6 million paid by the City of Pensacola's [[local option sales tax]], $2 million from [[Escambia County]], and the remainder from grants and private donations. In [[2007]], however, revised projections put the cost closer to $16 million. According to redevelopment committee Capital Committee chairman [[Bill Greenhut]], owner of [[Greenhut Construction Company]] and community leader of the fundraising efforts, "Construction costs have gone up around 40 to 50 percent, and I can attest to that."<ref name="pnj032507">[http://www.pnj.com/apps/pbcs.dll/article?AID=/20070325/NEWS01/703250332/1006 The show will go on] - [[Pensacola News Journal]], March 25, 2007</ref> Due to the crisis local governments are facing with [[property tax]]es and [[property insurance|insurance]], combined with the [[2007 City of Pensacola budget adjustment|City of Pensacola's 2007 budget shortfall]], fundraisers were reluctant to ask for more public funding. However, Greenhut says, "If there's better news from the Legislature, we would like to go back to the City Council in April or May and ask for an additional sum of money."<ref name="pnj032507"/>