We. Are. Peoria (Area)

I hope they can make this work, but I’m skeptical they can raise the needed $10Million in donations.
https://www.pjstar.com/story/news/colum ... 375572001/

Sounds like taxpayers are subsidizing this project to the tune of $35 million. It's too easy to spend other people's money.

Tazewell wrote: ↑Tue Jul 27, 2021 2:08 pm Sounds like taxpayers are subsidizing this project to the tune of $35 million. It's too easy to spend other people's money.

Sounds like Jeff is asking for taxpayers to consider subsidizing it. Just like Kim did in 2015 and someone before that, and some else before that, ... Saw a few concert acts there in the mid-90s, pretty far gone then.

This idea seems to come around on a 5 to 10 year clip.

Kim Group set to renovate the historic Madison Theater and develop an adjacent parking lot
https://www.pjstar.com/article/20150305 ... VtCKKF87Gs
A local developer has reached an agreement to acquire the long-shuttered Madison Theater, it was revealed Thursday. The Kim Group — which includes real estate and property-management facets — intends to renovate the 95-year-old historic structure.

The group also was picked to begin negotiations to purchase and develop a city-owned parking lot at Hamilton Boulevard and Madison Avenue. That lot is adjacent to the theater at 502 Main St.

If plans come to fruition, the lot will give way to a 12-to-14-story building that includes a hotel, office and retail space and residences.

Restored to its former glory, the theater might play host to concerts and motion pictures, among other events. And restaurant, retail and residential space is projected to occupy a block of Main Street that now is host to taverns and vacant storefronts.
The three-part project is called The Third Act, according to developer Katie Arnholt Kim. Development of the parts is to be undertaken simultaneously.


Madison Theatre
https://afterthefinalcurtain.net/2013/0 ... n-theatre/
The Madison was renovated again in the 1980s. The original entrance and part of the lobby were demolished and turned into a bar. The theater became a concert venue in the mid 1990s, with many popular bands playing there, including B.B. King, Ray Charles, Creed, REO Speedwagon, Fiona Apple, the Smashing Pumpkins, the Insane Clown Posse, and Slayer. In 2003 the Madison was closed by the city due to fire code violations. J.D. Comfort, one of the owners of the building, is quoted as saying that the building should be torn down, and that its served its purpose. He estimates that it would cost $18 million to restore the building. The Madison remains closed today.

RPlant wrote: ↑Wed Jul 28, 2021 7:42 am Sounds like Jeff is asking for taxpayers to consider subsidizing it. Just like Kim did in 2015 and someone before that, and some else before that, ... Saw a few concert acts there in the mid-90s, pretty far gone then.

Tazewell wrote: ↑Tue Jul 27, 2021 2:08 pm Sounds like taxpayers are may be subsidizing this project to the tune of $35 million. It's too easy to spend other people's money.

Is that better?

Tazewell wrote: ↑Wed Jul 28, 2021 7:47 am

RPlant wrote: ↑Wed Jul 28, 2021 7:42 am Sounds like Jeff is asking for taxpayers to consider subsidizing it. Just like Kim did in 2015 and someone before that, and some else before that, ... Saw a few concert acts there in the mid-90s, pretty far gone then.

Tazewell wrote: ↑Tue Jul 27, 2021 2:08 pm Sounds like taxpayers are may be subsidizing this project to the tune of $35 million. It's too easy to spend other people's money.

Is that better?

Point is (contrary to popular belief) many have asked, few have received.

RPlant wrote: ↑Wed Jul 28, 2021 7:52 am Point is (contrary to popular belief) many have asked, few have received.

The fact that anybody is even considering this fleece of the taxpayers is very telling in and of itself.

Tazewell wrote: ↑Wed Jul 28, 2021 7:55 am

RPlant wrote: ↑Wed Jul 28, 2021 7:52 am Point is (contrary to popular belief) many have asked, few have received.

The fact that anybody is even considering this fleece of the taxpayers is very telling in and of itself.

Wow, is it so inconceivable that someone might not have a viable redevelopment plan that we can't even have public discourse about it? Dude that the other attempts / discussions didn't happen should be some reassurance that public monies aren't nearly free flowing as you fear.

Still, what is your solution? "Hey everybody, let's go downtown and watch another landmark building rot away. Come on, it'll be fun!"

RPlant wrote: ↑Wed Jul 28, 2021 8:04 am Wow, is it so inconceivable that someone might not have a viable redevelopment plan that we can't even have public discourse about it? Dude that the other attempts / discussions didn't happen should be some reassurance that public monies aren't nearly free flowing as you fear.

Still, what is your solution? "Hey everybody, let's go downtown and watch another landmark building rot away. Come on, it'll be fun!"

If it wasn't for the Midtown Plaza and Pere Marquette debacles, this probably would have been pushed right through. That doesn't mean that suddenly the Peoria City Council is all of a sudden a good steward of taxpayer dollars.

I have much more of an appreciation than you probably think I do for historic buildings such as this. I think of the thousands of man hours and the craftsmanship that went into building it and how that might all go to waste. But, as sad as it would be if that building was torn down, if it means saving taxpayers $35 million, then it is the right thing to do.

The 2 times I can recall being inside the Madison was in 1979 when Star Trek: The Motion Picture was released. (hey, I was always a fan of the franchise). The other was around 1998 to see Kenny Wayne Shepherd concert, with special guest Tommy Chong. But I had won tickets to that event, so hard to tell if I would have gone anyway. But it was a good concert.

Let's say that instead of rehabbing, they decide to tear down. Do we want a huge vacant lot across from the Pere? It's already hard to attract new construction and investment in Peoria. Just look at the empty storefronts with the Marriott.

But say if someone did step forward, wanting to build a "New" Madison theater. Chances are they'd seek the same investment from the community, and perhaps a bond or loan from the city. Taxpayers might still be on the hook then, unless the process is a success.

Not sure anyone is lining up to build theaters after seeing what our national Covid policy did to that business.