Council: Warner Theater plan depends on NJEDA grant; Ridgewood Arts Foundation has a ready application
Council described the Warner Theater project financing: a $250,000 option payment by the village (reimbursable if the grant is awarded), an applicant purchase price around $2.6 million, and renovation cost estimates up to $90 million with a potential NJEDA Cultural Arts Facilities Expansion (CAFE) grant of up to $75 million covering roughly 80% of eligible costs.
The full story
A resident asked for a clear accounting of who would pay for the Warner Theater renovation and what the village's financial exposure might be, prompting council and staff to outline the current plan and grant strategy.
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