Today’s “Midday with Dan Rodericks” has brought to light that a letter to Deputy Mayor Andrew Frank, dated March 31, 2009, in which the Strategy Group (formerly referred to as ‘steering committee’) state:
- The Senator could not survive as a non-profit organization without an annual government subsidy.
My question to Deputy Mayor Frank was, how is it that The Patterson’s Creative Alliance can? Unfortunately, he left the show before the question was pulled.
Ref: Balto. Sun, A theatre is a part of the city worth saving
Councilman Bill Henry, a member of the Strategy Group, e-mailed in to say that the Creative Alliance received “millions” from the federal government for capital improvements, which The Senator cannot expect.
- Option 1: Baltimore City purchase the theatre by foreclosing on their loan, paying off 1st Mariner and then finding a management organization to run the theatre, still as a 1st run movie house.
- Option 2: Allow 1st Mariner’s foreclosure to proceed and plan to “work closely” with whomever wins the bid.
Even they admit that they’d have limited say with this option.
Tom Kiefaber restated that he is “ready to move on”, but insists the community needs the theatre to remain open.
He also reiterated that the multipurpose entertainment model (rather than first run movie) programming is the way to go, for whomever ends up running the theatre.
Sean Brescia of Clearpath Management said that all options are still on the table, including the possibility of filing for Chapter 11 bankruptcy.
Watch WYPR’s podcast page for a recording of the show.
Baltimore City’s Strategy Group Letter (added Apr. 4, 2009)
Baltimore Sun: Task force recommends city buy Senator Theatre