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City Council approves financing for IMAX screen at Wichita area theater
posted by
CSWalczak
on
April 13, 2010 at 7:40 am
WICHITA, KS — The approval of the issuance of millions of dollars in industrial revenue bonds by the Wichita City Council clears the way for construction of what is claimed to be the world’s largest digital IMAX screen at the 21st Street Warren Theatre.
The project would add a 600-seat IMAX theater to Warren’s movie complex near 21st Street North and Tyler Road. Warren is describing the theater as the largest commercial digital IMAX in the world.
The proposal would provide a 100 percent property tax abatement on the property. Warren instead would make payments in lieu of taxes equal to the property’s 2009 taxes, plus a 2.3 percent annual escalator.
The full story is in the Wichita Business Journal.
Comments (3)
DISGRACEFUL…
So taxes that would normally go to build schools or fix roads will be used to create a profit-making commercial venue that will compete with struggling local theatres. I wonder how many crooked Wichita politicians they had to buy in order to get public funds passed on to a private enterprise?
I see that Bush-era economic abuse is still alive and well in the Midwest.
No wonder everyone else stays out of Wichita. At least the theatres are good.