“This theater has become a tremendous burden,” Liverman told the city’s legislative delegation.
Unless the theater debt is paid off, Liverman said he expects a tax increase to haunt citizens for years to come. “We are proud people in this city. We need to pay off this debt.”
Liverman said the city needs Raleigh’s help on the matter.
Mayor Emery Doughtie said he believes a sales tax increase would be better perceived by the public if they knew the money was going to be used to pay off the theater debt.
Senator Ed Jones asked if the city was going to use the money for operating expenses at the struggling venue.
The mayor said the plan would be to use the money to pay the debt.
“I think it would be safe to say the city is not going to be running the theater,” Councilman Ernest Bobbitt said.
City Manager Paul Sabiston explained to the delegation the first step will be to regain control of the venue. A hearing in civil court on that matter is planned Tuesday.
After that, Sabiston said, “The short term plan is to get a professional management firm in and then start looking for serious buyers.”
Representative Angela Bryant offered to assemble a group of the state’s top financial strategists to study the matter and suggested using federal strategists assembled by Congressman G.K. Butterfield.
“We really need to do something about it,” Liverman said.
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