City may buy historic Royalty Theater
By LESTER R. DAILEY
Article published on Wednesday, May 21, 2008
CLEARWATER – Nine years ago, city officials passed up a chance to buy the historic – and reportedly haunted – 1920s Royalty Theater for $250,000.
Now, their successors are thinking of buying the 433-seat downtown theater and the adjacent Lokey Building for approximately $2 million.
For tax purposes, the two structures are appraised at a combined total of $1.3 million.
In a recent e-mail to City Manager Bill Horne and a supporting document, Assistant City Manager Jill Silverboard outlined a plan whereby the city would spend $2 million to buy the structures and $6.5 million to renovate them.
The effort would be a joint venture between the city and the Performing Arts Center and Theater Inc., the entity which operates the city-owned Ruth Eckerd Hall.
The city would pay $6.5 million and own the buildings. PACT would pay $2 million and operate the theater.
Article published on Wednesday, May 21, 2008
Copyright © Tampa Bay Newspapers: All rights reserved. |
