GLENDALE : Alex Theatre Needs $250,000, Study Says
A $250,000 subsidy will be needed to keep the financially beleaguered Alex Theatre in business for the current year, according to a report released Friday by the Glendale Redevelopment Agency.
The report comes as the agency is poised to vote Tuesday on an $80,000 loan to tide over the Alex until June 30. The loan would come on top of a $600,000 emergency subsidy the City Council approved last August to keep the theater open through 1994.
The theater has been in financial straits ever since a company hired to run it balked midway through the first year of a five-year contract last July.
City officials said they had always expected the Alex, an Art Deco movie house that the Redevelopment Agency refurbished into a performing arts center for more than $6 million, to need an ongoing subsidy. But a permanent source of funds has not been identified.
One possible funding source under consideration is the $800,000 the city receives yearly in bed tax from the Red Lion Hotel, officials said.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
