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Consultants: 400‑seat downtown theater is Perris’s fiscal 'sweet spot'; city to pursue funding options
Summary
An operational and funding analysis of the Perris Historic Theater presented four scenarios; consultants recommended a building sized near 400 seats (scheme three) with an estimated total project near $25 million and a multi‑stream funding strategy including philanthropy, grants and partnerships.
Consultants from OX Architecture and Victis Advisors presented a 99‑page operational and financial analysis for the Perris Historic Theater on July 28, showing tradeoffs among four scenarios ranging from restoration to a new 500‑seat facility.
The study modeled demand from regional promoters and projected that a roughly 400‑seat theater (a configuration similar to scheme three) would generate the best balance of earned revenue and operating costs — the consultants called it the “sweet spot.” A 400‑seat venue plus back‑of‑house improvements was modeled as producing higher event revenue and lower per‑seat subsidy than smaller restoration options, while the largest (500+ seat) option produced diminishing returns when promoters’ likely booking volumes were considered. The consultant estimated a capital cost in the order of $25 million for a larger project and a multi‑year operating subsidy in the early years, with the exact fiscal impact dependent on the final scheme, construction financing and capital stack.
Consultants recommended the city pursue a mixed funding strategy — philanthropy, grants and possible private/public partnerships — and suggested hiring a fundraising consultant to assemble a capital stack. Councilmembers expressed interest in schemes two and three and asked staff to pursue grant and private‑funding opportunities; several requested the city’s new economic development director and the consultant continue conversations and return with a funding plan.
Council gave direction to staff to pursue funding opportunities and return with more detailed financial strategies before committing to a specific project design or funding path.
