“I’d like to see someone competent who has the financial ability to make the theater a success,” Mayor Emery Doughtie said today.
The mayor said he would like to see someone come in with the financial ability to put on at least three shows where the city could work out a revenue sharing deal even if it meant all the city got was concessions. “I think something like that would go real well with the community and go real well with us.”
The city got control of the theater Wednesday through a court order signed Tuesday before it and attorneys for Lafayette Gatling were scheduled for a preliminary injunction hearing in civil court.
The motion for the injunction is contained in a lawsuit the city filed against Gatling and his L&M Hospitality company and gives the city control of the venue while the remainder of the lawsuit is in litigation.
In the lawsuit the city seeks possession of the theater, money damages for past due rent, clear title to the facility, along with other remedies available from an alleged breach of an agreement entered between the two parties in March of 2009. The city has not received a lease payment from L&M since March and the company shows an outstanding balance of more than $530,000.
From what Doughtie understands, Gatling was apparently in a high leverage situation where he may have believed other property he had in Chicago could be used to pay his debt to the city.When the real estate market bottomed he could not apparently sell the property.
“I want to see someone with a history and credentials,” the mayor said. “I want them to be knowledgeable and capable of putting on a show. It was obvious Mr. Gatling didn’t know about running a theater.”
While the city wants someone to run the theater temporarily, the mayor said the same group could also buy the theater, although he declined to quote a price the city would take for the venue. “As we become more comfortable with them and they become more comfortable with us it could be something that could turn into a long term relationship.”
Said Doughtie: “Anybody interested and able to buy the theater we would welcome the opportunity to sit down and talk to them.”
The work session will be held at 5:15 p.m. in the first floor conference room at city hall.
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