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Village Could Decide DuPage Theatre’s Fate Next Month
posted by
btkrefft
on
August 11, 2004 at 2:13 pm
LOMBARD, IL — The future of the long-shuttered DuPage Theatre could be decided as soon as next month by the Lombard Village Board, according to this report in the Daily Herald.
The Board needs to approve the release of $900,000 in tax-increment finance funds already pledged to the restoration of the former movie house. Work on the first phase of the restoration project, estimated at $1.4 to $2.4 million, is scheduled to begin this fall.
Around $5.3 million in contributions has been pledged already, according to the DuPage Theatre Foundation, of which $200,000 has been received. Lombard’s releasing the $900,000 towards the project is tied to a state grant that has been frozen for over a year due to the State of Illinois' financial troubles.
The total cost of the restoration of the DuPage Theatre into a cultural center is $6.2 million, which will also include a restaurant and retail spaces. The DuPage Theatre and Arts Centre would be a venue for concerts, live theater productions, children’s programs, screening classic movies, and community events.
One village trustee, Steve Sebby, is doubtful about the DuPage Theatre Foundation’s ability to come through with the money. “Their funds need to be secured rather than just pledges. Otherwise, they open themselves up to a lot of liability.”
