 The council's goals focused on the development of local arts, and sought to create a major performing arts center following the success of the Palm Beach Playhouse.In 1986, friends of Raymond F. Kravis raised a $5 million donation in his honor, beginning construction for the eventual 1992 opening.The donation, headed by Leonard Davis and Merrill Bank, grew to $10 million before 1992, and the two remain on the Center's committee.