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Friday, February 10, 2012
Crest Theater Improvements Project
by Michael Zwahlen, published on January 27, 2009 at 1:10 PM
Storyline: Crest Theater Improvements Project
Community Tags
business
crest theater
culture
downtown
k street
loan
politics
sacramento
sacramento city council
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The Sacramento City Council passed a motion on the 20th of last week to loan an additional $160,000 to the existing $253,839 loan principal to create a new loan to be used for capital improvements to the theater. The loan is forgivable in the year 2019 if the theater makes structural, safety, and aesthetic improvements as part of scenic easement to the Crest Theater marquee. An Owner Participation Agreement (OPA) with The Briggs Family Group (Owner) is to provide Downtown Redevelopment tax increment funds to the project. The loan would add $160,000 to the existing loan principal $253,839 and create a new loan of $413,839 to be used for capital improvements to the theater.
Minutes from Sacramento City Council Redevelopment Agency 1/20/2009
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Geoff Samek
January 27, 2009 | 2:07 PM
An interesting question is: Can the Tower Theater request a similar loan?
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leslie de vries
January 27, 2009 | 6:08 PM
Good news--glad to see some aesthetic upkeep but i hope this doesn't mean the catwalks above the ceiling are in danger! Or maybe they could excavate the old tunnel to K street and make it a chi-chi wine bar.
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