[OMS_MANAGERS] Theater Support Needed!

[Nick Snead]

Good morning!

I felt compelled to share this story and the City of Madras' efforts to recruit a theater.

The City of Madras' Urban Renewal District  incentivized the development and opening of a 5-plex movie theater to be constructed in 2010. It was a very significant project. Now with the COVID pandemic, the urban renewal district has provide a $200,000 forgivable loan, if performance standards are met, to the same theater to help them get through the pandemic.

I did see this article on CNN about the current status of theaters<https://www.cnn.com/2020/10/05/media/movie-theaters-regal-closing/index.html?campaign_id=9&emc=edit_nn_20201006&instance_id=22849&nl=the-morning&regi_id=101280812&section_index=4&section_name=play_watch_eat_sprint&segment_id=39939&te=1&user_id=978fc0a98f7676b267dbae48d4330173>. Teaser: 69 percent of the country's small and midsize movie theater companies will be at risk of closing!

Please consider the objective and subjective values of a theater(s) in your community and how important it is to your community! Accordingly, I've said that recruiting a theater to Madras was a once in 50 year opportunity! If the Madras Cinema 5 closes, it will be very difficult to recruit a new owner and operator. With this in mind, I'd encourage the consideration of the cost of providing assistance and not providing assistance to theaters and the related impacts to your community.

Most sincerely,

Nicholas Snead, AICP
Community Development Director
City of Madras
125 SW E Street
Madras, OR, 97741
(P) 541-475-2344
(F) 541-475-7063
www.ci.madras.or.us

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