Council backs capital campaign as Royal Theatre redesign seeks to close funding gap

Summary

City officials reviewed a redesigned plan for the Royal Theatre, heard that an initial $14.3 million bid was reduced by redesign and that the city currently has $10.5 million available; council approved formation of a community capital campaign committee and appointed Councilmember Whitney Furness to the committee.

The City Council of Guadalupe on Jan. 14 agreed to move forward with a community-led capital campaign to help close a funding gap for the Royal Theatre renovation after the project team reported a redesign and ongoing grant work.

Tom Bradbury, project representative, told the council the project team is at about 50% design and expects a revised construction cost estimate within a week. Bradbury said the city currently has about $10.5 million available for the project and that earlier bid pricing had come in at about $14.3 million, prompting a redesign to reduce costs. “We are looking at some other options to increase that funding amount that we have now,” Bradbury said during the presentation.

The council heard that the city has applied to the Office of Historic Preservation for the California Rehabilitation Tax Credit Program; Bradbury said the application passed an initial review and will move to the next state committee for further review, with a potential award in the roughly $900,000…

Council backs capital campaign as Royal Theatre redesign seeks to close funding gap

Summary

Subscribe to keep reading