Loan Programs for Historic Theaters

posted by focus on December 19, 2005 at 8:01 am

The First Fund Program, provides financial assistance to organizations that serve low and moderate income households or provide economic benefit in low and moderate income communities, like downtown’s

The Second Fund Program, is a more flexible fund in terms of project criteria, that provides funding for a variety of preservation projects. These may include establishing or expanding local and statewide preservation revolving funds, acquiring and/or rehabilitation of historic buildings, sites, structures and districts, and preserving National Historical Landmarks, that include Historic Theaters!

Eligible applicants are tax-exempt nonprofit organizations; local, state, or regional governments; and for-profit organizations. Eligible properties are local, state, or nationally designated historic resources, like downtown historical theaters; contributing resources in a certified local, state or national historic district; resources eligible for listing on a local, state, or national register; or locally recognized historic resources.

Eligible uses of loan funds include acquisition, construction, bridge, predevelopment, mini-permanent financing, and capitalizing revolving funds. Lines of Credit are available for acquisition and construction. Loan Terms, are lines of credit with varied terms available. The loan amount is based on the type of project and use of funds, with a maximum loan amount of $350,000; loan terms range from one to seven years. Collateral is required for all loans. Closing fees are charged.

When you become a Performing Art Centers Of Indiana client, we shall perform an in-depth analysis of your theater organization, to determine your eligibility for one of these loan programs and provide your organization with the necessary consulting services, for the desired expenditures of your funding capital. Log onto www.onstagein.com , to learn more about these two exciting loan programs that can help bridge your capital resources, on your theater rehabilitation project!

Comments (3)

ronmerk
ronmerk on January 30, 2006 at 2:47 pm

Are these programs available in the State of California? I’m working on buying a San Francisco theater, and we’re a non-profit, looking for financial help. Please help plus us in, if you will. Thanks. Ron Merk, Executive Director, The Metro Theater Center Foundation

focus
focus on February 19, 2006 at 10:09 am

Yes Ron the loan program is availabe in all 50 states and your theatre location would be eligible for the program as outlined. If you currently do not meet the required criteria, PAC can assist you in meeting the requirment standards for eligibility. Just contact them through their web site at www.onstagein.com

PaulGlickman
PaulGlickman on September 21, 2006 at 8:21 am

If anyone knows if Ron Merk is the producer/director of the “Pinocchio” films of the ‘70s. Tell him Paul Glickman is trying to get in touch. email

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