The Stuart Town Council on June 21 authorized Town Manager Bryce Simmons and Town Attorney Chris Corbett to execute the contract to purchase the Star Theater for no more than $375,000.
Simmons said the town has discussed purchasing the theater for about a year.
Tax dollars will not be used to buy the theater.
“We approached the Tobacco Commission to get funding” for a feasibility study, “and we partnered with Virginia Tech (Virginia Polytechnic Institute and State University) to perform that feasibility study,” he said.
Simmons said a survey showed about 92 percent positive input from citizens at large for the town purchasing the theater.
It also “showed about a $2 million potential impact to the town through both money being spent, tax revenue, visitor spending as a result of the Town of Stuart purchasing the Star Theater and leasing it to an operator for a period of time,” he said.
As a result, the town approached the owners through Blue Ridge Mountain Real Estate and came to an agreed upon price of $375,000 for the building.
The council also heard from several residents before approval.
Kurt Bozenmayer said the purchase is a once-in-a-lifetime opportunity to acquire a fully operational, functional theater, “and put us in the lead of a lot of these other towns that have been successful. If you look at the theaters in” other areas “they all have operational theaters that are a draw for people to come in from the town and from the immediate area for tourism.”
Mayana Kingery said she and her partner would like to do things at the theater in collaboration with others and potentially have an afterschool or community theater program.
“We very strongly support the idea of the town purchasing it,” she said.
Former town council member Leon Puckett said he doesn’t believe the town should get to being a landlord.
“I mean you got enough stuff to look at. We worked hard to keep our budget, to build up the nest egg we got. You can’t charge enough lease money to ever get your $375,000 back,” he said.
Mayor Ray Weiland said the idea of purchasing the theater is to invest in the town and bring in that estimated $2 million that’s going to be spent around the town.
“We spent a lot of time and effort with the Virginia Tech group that did the study, and I feel like they knew what they were talking about,” the mayor said.
Patrick County Tourism Director James Houchins said the purchase would definitely be an asset for the town and the county.
“We have everything pretty much in place now to bring people in. We just really haven’t really tapped into it. This could actually be a lightning rod to actually help get things done, or at least a very good spot in getting it done to get more people into the county,” he said.
Houchins said the more programs and things that are offered for people to do, the more they come here.
“Once they come here, they will probably come back, as long as we’re able to continue to offer those services. We need entertainment, we need after-hours entertainment, we need something we can go to on a consistent basis and have a variety of activities,” he said.
Simmons said the margins were so thin for a private individual to purchase the theater and make it a profitable business within seven years that it was nearly impossible.
“The town does not need to make a profit off of this. It was never designed to be a money maker for the town, it was designed to be an attraction and an anchor institute for the development of our downtown,” he said.
Simmons said he agrees with Puckett’s statement about the town not needing to be in the landlord business, “however if we don’t have landlords willing to put their money into the town, then the town has to.
“If the town is not willing to invest in the town, then why should anybody else,” Simmons asked rhetorically.
Chris Prutting and Lora Mahaffey also voiced support for the purchase of the theater.
In other matters, the council:
*Approved the meeting minutes as written.
*Heard an update on public works projects.
*Discussed the hospital zoning code.
*Discussed town policy.
*Created the Star Theater Leasing Committee comprised of Dave Hoback, Weiland, Erica Wade, and Rebecca Adcock.
*Discussed the town’s finances.
*Paid the bills.
