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Council discusses Sanger Theater roofing, TIF funds and city capital obligations to OVG
Summary
Council members reviewed a proposed roofing contract for the Sanger Theater and questioned whether the work could count toward the city's annual capital obligations to OVG; administration said the roofing is funded with TIF and not solely OVG’s obligation and that the expense may be considered maintenance rather than capital improvement.
City officials discussed a proposed roofing contract for the Sanger Theater and whether the expense would count toward the city’s capital-obligation commitments to OVG. A councilmember asked whether the Sanger roofing contract would “go towards that meeting that obligation” the city has to spend capital dollars annually on the Sanger and convention center. A city administration representative responded that the roofing work is funded with Tax Increment Financing (TIF) money that specifically identifies the Sanger as eligible for TIF and that OVG is expected to make a capital contribution and later…
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