Old Town Theatre owner requests $6M loan
posted by Michael Zoldessy on June 16, 2008 at 7:45 am
WICHITA, KS — The owner of the Old Town Theatre is looking for help from the city in order for the theatre to keep going.
Bill Warren is asking the Wichita City Council for a $6 million low-interest loan and a reduction of parking fees in order to keep his Old Town theater open.
According to an analysis by the city’s staff, “The Old Town Theatre is a popular destination in Old Town and serves as a major attraction to bring patrons to the Old Town area. However, its relatively small size, compared to norms in the movie theater industry, has created negative economies of scale that have resulted in significant financial losses during the theater’s first five years of operation.”
Read the full story in the Wichita Business Journal.