Nashville Symphony estimates flood damages at $42 million

Posted on: June 23, 2010

In Wednesday’s (6/23) Tennessean (Nashville), Nicole Young reports, “Flood damage to Schermerhorn Symphony Center is estimated at $42 million, much higher than anticipated, and the building won’t reopen until January, officials with the Nashville Symphony announced Tuesday. The downtown hall’s basement was swamped in the May 1-2 flood; crews have worked almost around the clock to make repairs. Assistance from FEMA, along with $10 million in flood insurance, will cover a substantial portion of the cost, which includes about $13 million in cleanup, $20 million in construction, $3 million in furniture, fixtures and equipment in the basement and $6 million in business interruption, said Alan D. Valentine, president and CEO of the symphony. … But insurance isn’t enough. Valentine estimates the symphony is $3 million to $10 million short. ‘It’s pretty staggering,’ Valentine said. ‘It took us a while to understand the magnitude of the damage. We’re going to have to raise money the old-fashioned way by asking for donations, for help from our community.’ … The symphony is completing plans to relocate its fall schedule of classical, pops, jazz, family and special concerts to alternate venues around town, spokesman Alan Bostick said Tuesday.”

Posted June 23, 2010