The $130-million opera house renovation project was expected to be funded mainly with private funds. However, according to city officials, millions of dollars in private and public funding fell through or was delayed, and the city has committed to finishing the project on time. Therefore, the city will issue bonds to raise the additional funds needed.

The new funding for the opera house is part of the mayor's 2003 budget approved by the city council last week. According to the city officials, this funding ensures that the opera house opens next summer.

The McCaw Hall project involves a major renovation of the Seattle Opera House. The finished product will provide revamped space for the Pacific Northwest Ballet and the Seattle Opera. The project features a 2,890-seat auditorium, 12,000-sf grand lobby, 388-seat lecture hall, cafe, concessions, and more.