La Grange board members worried about $1 million payment

posted by danpetitpas on November 20, 2008 at 3:46 pm

LA GRANGE, IL — Not everyone was happy in La Grange when the Village President broke a tied vote to provide $1 million for the renovation of theLa Grange Theatre.

One of the town’s board members said she’s had sleepless nights since the vote to give the four-screen theater the money. However the president thinks it will serve as an entertainment magnet to draw people to nearby shops and restaurants

Technically, the village is purchasing an easement on the facade to preserve it in perpetuity. If the theater ceases to operate, the owners are required to buy back the easement.

The owners have already invested $350,000 and has promised another $650,000 to finish the renovations in 12 to 18 months starting in 2009. The local business association has pledged $50,000 to help replace the marquee.

Read more in Suburban Life.

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Comments (2)

Broan
Broan on November 20, 2008 at 6:32 pm

That’s not the way facade easements are supposed to work, you’re not supposed to buy them back

Life's Too Short
Life's Too Short on November 21, 2008 at 3:25 pm

What state is the building in now? It sounds half torn apart.

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