JOHNSON CITY, Tenn. -

The East Tennessee State University Arts Initiative received a big financial boost last week.

An anonymous donation by an ETSU alumnus of $100,000, was made to help build a and performing arts center at ETSU and now the university stands at 61 percent of the estimated needed funding.

The arts center was originally estimated to cost 38 million, but is now at more than 40 million dollars.

The cost of the building has increased with an inflation adjustment.

The inflation required ETSU to change the fundraising target from 9.5 million to 10.2 million dollars.

Dr. Brian Noland, the university president, seems confident the building will become reality.

"I remain confident that we will have all the funds in hand by the close of the academic year, and we will be in the top four or five projects that the board of regents sends to the governor," said Noland. "We are hopeful tax collections continue to improve, and that will be on the governors capital funded projects list for consideration by the general assembly in early 2015."

Dr. Noland also said officials are continually trying to finalize the site, and the preference is to build near the Millennium Centre.

The city has also stepped forward and offered money to help with pedestrian flow back and forth between State of Franklin.

They also plan to install a traffic light near the new parking garage.