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Sunday January 29, 2012
The Sunday Papers A Paramount Idea In search of the perfect plan, City still weeding out proposals Staff/Voice file photo
The City has made it clear they aren't going to be involved with the restoration of the building financially. It remains to be seen if the City will provide any incentives like waiving DCC charges etc.
On November 5, 2010 Landmark Cinemas gifted the Paramount Theatre on Yale Rd. to the City. Since that time, the City has been looking at proposals from various groups. The City is not prepared to help with funding so whichever group takes over the building has to upgrade it to current standards and provide proof of the financial means to partake in the renovation project.
The evaluation team looked at two proposals; from Revolution Church and Protocol Developments. Both were found to not meet the requirements the City laid out and were disqualified.
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short answer to this project? Money. Lots of it. The building will be a hole
in the ground that someone is going to have to pour money into or it will
meet the same fate as the Empress Hotel.