Olympia Theatre in foreclosure

posted by 42ndStreetMemories on January 5, 2011 at 7:40 am

PALMETTO, FL — The Olympia Theatre which opened in 1916 as the first movie theater on the West Coast of Florida is in foreclosure and will be auctioned off in February 2011.

Manatee Circuit Court Judge Edward Nicholas awarded a Sarasota County private lender a $419,913.63 foreclosure judgment against Olympia owners Joel and Cindy Jarvis on Dec. 13.

According to court records, the Jarvises borrowed $280,000 from Gordon D. Hester on May 28, 2008, and were unable to pay back the loan and $55,655.93 in interest that had accrued through Dec. 10.

Read more at Bradenton.com.

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