Thursday September 22, 2011

Local News

City Seeks Proposals

A good idea and $250k will get you a long-term lease this old beauty

Released by Starlee Renton, City of Chwk/Voice file photos

 

he City of Chilliwack is inviting proposals for the use of the old Paramount Theater, located at 46187 Yale Road, through a formal request for proposal (RFP) process.

 

Groups or individuals seeking to be part of the future of the Paramount Theater will be required to submit a written proposal that addresses the following concerns: detailed description of the proposed use, demonstrate the capacity to make all the improvements to the building, provide details of the improvements, specify required lease term and demonstrate financial capacity to complete the improvements without financial assistance from the City.


"We've heard from many people who have fond memories of the old theatre and creative ideas for future uses," said Mayor Sharon Gaetz. "We're looking for proposals that will put an idea into action with a detailed business plan, as there are many issues and financial implications that need to be considered."

 

The party making the successful proposal will be provided a long term lease of the property, which will allow them sufficient operating time to recover all costs associated with the building renovations.

 

Limited maintenance was conducted on the property during the final years of operation. There are significant cosmetic issues, serious electrical concerns, no insulation in the building, a leaking roof and the boiler, built and installed in the 1940's, is broken. The City of Chilliwack conducted a condition assessment and estimates repairs could cost from $150,000 to $250,000.

 

The Paramount Theatre and property was gifted to the City of Chilliwack in November 2010. The RFP will be published on October 3, 2011 and will close on December 7, 2011. The document defining the format and procedures for making a proposal will be available on October 3 at www.chilliwack.com/bids.
 

 

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