With the Orlando Philharmonic leaving Orlando Shakes and moving into The Plaza Live, we were curious if that would leave Orlando Shakes in a financial bind. So, we sent some questions to Orlando Shakes, and they were answered by PJ Albert, Managing Director of Orlando Shakes, on Wednesday May 22, 2013.
TDC: Will this put a financial strain on Orlando Shakes?
PJ Albert: The decision by the Orlando Philharmonic Orchestra to move to another location was based on the upcoming renewal of their sublease. We have been in communication with the Executive team at the Orlando Phil throughout the process, and have been preparing for their final decision in regards to the purchase of the Plaza.
TDC: What will Orlando Shakes have to do to fill that financial hole?
PJ Albert: We are meeting with the Board of Directors in the coming weeks to determine the best path for our organization in regards of the future use of the space within the Lowndes Shakespeare Center.
PJ Albert: The decision by the Orlando Philharmonic Orchestra to move to another location was based on the upcoming renewal of their sublease. We have been in communication with the Executive team at the Orlando Phil throughout the process, and have been preparing for their final decision in regards to the purchase of the Plaza.
TDC: What will Orlando Shakes have to do to fill that financial hole?
PJ Albert: We are meeting with the Board of Directors in the coming weeks to determine the best path for our organization in regards of the future use of the space within the Lowndes Shakespeare Center.
TDC: Will you rent the space out to another group?
PJ Albert: We are not prepared to make that decision without having met with our Board of Directors.
PJ Albert: We are not prepared to make that decision without having met with our Board of Directors.
TDC: What percentage of your income is from space rental in total?
PJ Albert: The sublease with the Orlando Philharmonic is not a space rental. The Orlando Philharmonic covers the costs incurred by their use of space in regards to utilities, maintenance, cleaning, etc. Therefore it is not truly income to us, but only a reduction in the overhead costs of running the Lowndes Shakespeare Center.
PJ Albert: The sublease with the Orlando Philharmonic is not a space rental. The Orlando Philharmonic covers the costs incurred by their use of space in regards to utilities, maintenance, cleaning, etc. Therefore it is not truly income to us, but only a reduction in the overhead costs of running the Lowndes Shakespeare Center.