Friday, 17 November 2017 13:55

No upset bids submitted as deadline on theater offer nears

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As a Monday deadline looms, there have been no upset bids filed on a $3 million offer to buy the Roanoke Rapids Theatre, City Manager Joseph Scherer confirmed today.

The deadline to file an upset bid is Monday at 5 p.m.

Should no upset bid be submitted by the deadline, city council will determine at its Tuesday meeting whether to accept or decline the offer. Council meets at 5:15 p.m. at the Lloyd Andrews City Meeting Hall on Jackson Street.

The prospective buyers, Thomas and Evon McClean, made a $150,000 down payment to the city last week.

The McCleans intend to operate the venue to put on shows, develop it as a meeting place, develop it as an attraction and conduct internet gaming.

A qualifying higher bid is one that raises the existing offer to an amount not less than $3,150,000.

If the theater is sold, the proceeds will be deposited in a city account which will be determined at a later date, Scherer said.

 

 

 

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