County makes Coconut Grove Playhouse deal
|Architect Richard Heisenbottle's rendition of the new playhouse.|
They have authorized Mayor Carlos Gimenez to execute settlement agreements in the amount of $120,000. The hope is that the plans by architect Richard Heisenbottle are implemented, which saves the facade. A plan being discussed is to demolish the building and put up a smaller structure with retail and restaurants, but this sort of kills the idea of saving the playhouse because if this happens, then it really isn't the Coconut Grove Playhouse anymore, it's just a new building presenting plays.
There is a January 15 deadline to pay expenses and while millions are still due to creditors, $120,000 is what is due by January 15. The State of Florida, the current owner wants to clear the title.
A 50 year renewable lease with the county is the goal, once the county receives possession from the state, which is the plan now.
The City of Miami is owed $1.9 million and the Coconut Grove BID is owed $34,000 in assessment fees and there are bunch of other creditors which all add up to the $3.5+ million.
The County would like to have FIU and GablesStage run the show once the Playhouse is back up and operating. It's been closed since April 2006.
A lot of the debt money could come not from the playhouse itself, but by the parking next door, It generates over $200,000 per year and that money would be used to help pay down debt.
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