Roanoke Rapids considering buy-out offer for troubled theater
The city of Roanoke Rapids may soon be out of the theater business, but the terms are far from ideal, Mayor Drewery Beale said Friday.
Posted — UpdatedGatling's monthly payments would fall far short of the $142,000 per month that the city owes on the loan taken to fund the project.
The city received 21 bids from groups seeking to either buy or manage the troubled theater.
Where Beale and City Manager Phyllis Lee see a way out of a bad situation, others see a raw deal. "I don't need to be a mathematician to figure out that's a loss," Gene Minton, chairman of the Halifax County Board of Commissioners, said.
The city will hold public hearings on the bid on Oct. 28. The city council will make a final decision on Gatling's offer some time after that.
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