The new year will seemingly bring new life to the Park Theatre restoration project after the city has received a new opinion from the state.
“It is my understanding the Tennessee Comptroller of the Treasury has given its OK on this plan, provided we meet all the criteria the state puts in place,” said McMinnville Mayor Norman Rone. “I don’t know why they changed their minds, but they have.”
In September, city officials voted to take the steps necessary to obtain 20-year bonds to finance renovation. Park Theatre Group members agreed to hire an architect to generate bid documents and sign a new lease requiring them to make the annual payments and purchase the property for $1 once the loan is repaid.
The comptroller conducts audits of state and local government entities to ensure they are in compliance with the law. After an initial review of the city’s plan, it was not approved.
“We couldn’t do it without their approval,” said Rone. “If someone thinks we did it illegally, that could cause problems. We don’t want this to come back to haunt us.”
Upon a second look at the city’s intentions, the comptroller changed its rejection to acceptance.
Hiring an architect to generate bid documents would cost Park Theatre Group approximately $80,000. With the comptroller’s initial hesitancy, that process was put on hold.
“We want to be a good steward of the money that we have been given,” said Park Theatre Group member David Marttala. “We want to figure out funding first, then move forward with bid documents.”
Through donations, the group has been able to raise approximately $200,000.
Rone says he is more than willing to vote in favor of the measure now that it has comptroller support.
“The city’s legal counsel is working on a letter to Park Theatre Group that expresses the city’s support for the project,” Rone said. “I will vote for it, if a measure comes before the board. I think the community wants us to do that.”
However, any measure before the board requires majority support.
“I understand the comptroller’s office has given its OK,” said Alderman Junior Medley. “I would like to see us move along with this. I would definitely vote in favor of it. I think this is something we should do.”
That sentiment was shared by Vice Mayor Everett Brock, as well as Aldermen Jimmy Haley and Billy Wood.
“We have done everything humanly possible to make this happen,” Brock said. “We have comptroller support now, but we can’t do anything else until we get the bid documents.”
Once Park Theatre Group obtains bid documents and bids are received, officials will have to vote to accept one.
“We have already gone on record that we support them and support the idea,” said Brock. “It was a unanimous vote, if I remember correctly. To my knowledge, everyone is still on board with this. I don’t see a problem with the measure passing the board.”
Haley says his only concern will be to ensure Park Theatre is successful once renovation is complete.
“We need a sound business plan with proper management,” he said.
Marttala says the situation looks hopeful and Park Theatre Group is anxiously awaiting the letter.
“When we get a letter from the city stating its ability to help with funding, we are ready to pull the trigger and hire an architect to generate bid documents,” said Marttala. “By late spring we should be ready to bid the project out.”