4th Ave Theater Bond Proposal
My name is Jane Angvik. I am a new appointee on the Board of Anchorage Historic Properties Inc. and also serve on the 4th Avenue Theater Working Group. I am encouraging you to place a $2 million bond proposal on the ballot to purchase the 4th Ave Theater. The building is for sale. Either the Municipality buys it to save it, or someone else acquires it probably destroys it. The citizens who have volunteered to work on the 4th Ave Theater have formed committees on Operations, Fundraising and Preservation. We believe the price should be established by a fair market appraisal. We believe funds can be raised from the private sector and other sources to combine with bond funds to meet the capitol costs of acquisition, renovation and restoration. If the Theater is to break even, it cannot bear the cost of any debt. The Operations Committee is analyzing operating expenses, and exploring ways to generate income, including leasing out the space on the 3rd and 4th floors. It is our intent that the Municipality contract out the operations, so the government is not in the business of managing the theater. The contract could go to a non-profit organization, as in the case of the Museum or PAC, or to a for-profit management firm, such as SMG, which manages the Egan Convention Center and the Sullivan Arena. We believe it is in the public interest to preserve the Fourth Avenue Theater because of its historic value to the community. Additionally, the acquisition will contribute to the economic vitality of downtown and will enhance the significant public investment being made in the new convention center and Museum expansion. The Municipality has been involved in efforts to save the 4th Avenue Theater from the wrecking ball since 1984. This time let's make it permanent. Please give the community the opportunity to step up to the plate and protect it. Please let the voters participate in this decision one final time. |