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Laconia finance panel presses for tighter Colonial Theatre contract after single bid from Spectacle
Summary
City Manager Kirk Beattie told the Finance Subcommittee the Colonial Theatre contract, which expires June 30, 2026, drew only one timely bid from Spectacle; members debated contract length, municipal and library event days, concession revenue, and asked staff for sales and surcharge data.
City Manager Kirk Beattie told the Laconia Finance Subcommittee on Jan. 27 that the city’s contract with Spectacle for management of the Colonial Theatre expires June 30, 2026, and that only one timely bid — from Spectacle — was received after two rounds of solicitation. Beattie said a late bid arrived after the deadline and was not opened under the city’s purchasing procedures.
The committee pressed for a shorter, more accountable contract term and more municipal access. Beattie said the previous contract ran 5.5 years; staff has discussed a five-year term or a two-year deal with built-in extensions. He said Spectacle is already booking shows after July 1 and that, in his view, Spectacle “attempted to book three times the number of shows that they actually booked.”
The discussion centered on tangible changes staff should seek in the next contract. Beattie recommended continuing the advisory board created 2.5 years ago and updating concession rates and the split of capital versus noncapital responsibilities. Councilors requested clearer rules on how the 12 library days tied to a $200,000 gift are counted against the city’s municipal days; Beattie said he will seek 12 city dates and 12 library dates.
Committee members also debated potential revenue options, including a per-ticket surcharge to fund building upkeep and more city-run events to increase downtown activity. Finance Director Glenn Smith provided background on downtown financing, saying BEDC was loaned about $8 million and a bond originally for $6.7 million is down to about $5 million; interest-only payments of roughly $42,000 per quarter have been paid from the downtown TIF.
Beattie reported that between 2022 and 2025 Spectacle paid about $3.8 million for acts and that Spectacle claims to have spent $750,000 on marketing. Council members suggested adding measurable booking requirements to the contract (for example, booking more shows than the prior year by a specified percentage) and asked staff to produce ticket-sales history and surcharge scenarios.
The subcommittee agreed it was not interested in selling the theater and expressed a preference against a five-year contract, showing openness to a shorter two-year term with extensions. Beattie said he would try to arrange for the owner to meet with the council within two weeks.
Next steps: staff will assemble attendance and ticket-sales data, propose contract language on booking expectations and capital responsibilities, and schedule a meeting with the operator to answer the committee’s outstanding questions.
