COLLIN COUNTY - The Arts Center of North Texas Board of Directors avoided postponing, or even dissolving, the controversial project.
Instead, they approved a recommendation to turn it over to an independent, non-profit organization.
It would release Plano, Allen and Frisco of all their obligations to the arts center, including millions of dollars in bond money approved by voters.
The Arts Center board recommendations come just nine months after Frisco voters decided to pull back their funding, and days after executive director Mike Simpson resigned.
"It's the right thing, it's the right place," said Simpson, a former Frisco Mayor. "Apparently, it wasn't the right time."
The Arts Center has almost $3 million in the bank and $6 million in pledges. If it's dissolved, the cash would be split among the owner cities.
"If the organization dissolves, everyone would be released from their pledges," said Mary Grube, who was named interim executive director at the board meeting. "They would no longer have that commitment."
In 2005, Briar Ridge Investments donated 124 acres of land for the project, near the Sam Rayburn Tollway and Custer Road. The land was valued at $22 million. If the arts hall isn't built by 2015, Briar Ridge can take the land back.
"I believe that under the right situations, that land will always be donated by them, if you can just build an arts center on the land," Simpson said.
The former executive director says he resigned because with the future of the arts hall hanging in the balance, he can no longer do his job: raising money to build it.
"You can't ask people to donate if they're not sure what's going to happen to the project," Simpson said.
Simpson said back in March 2010, the start of construction was another $200,000 away.
Now the same cities who dreamed of building it will decide whether to kill it.