Title
Resolution - A Resolution Authorizing the Contract of Sale for the Farr Best Theater and Authorizing the Supplemental Disbursement of Hotel Occupancy Tax Funds to the Mansfield Convention and Visitors Bureau to Purchase the Historic Farr Best Theatre and Make Aesthetic and Operational Improvements
Requested Action
Approve a resolution authorizing the allocation of funds from the hotel occupancy tax funds allowing for $450,000 plus closing costs for the purpose of purchasing the Historic Downtown Farr Best Theater and $28,426 for new carpet, new paint, and A/V equipment, and $30,305 for roof restoration.
Recommendation
Approve the resolution
Description/History
The Farr Best Theater in Historic Downtown Mansfield is an iconic piece in the downtown district and plays a vital role in the City’s efforts to re-develop the downtown area. The Hotel Occupancy Tax Fund sub-committee met in July to discuss purchasing the Farr Best Theater if the opportunity ever presented itself.
Justification
In an effort to purchase the Farr Best Theater and to have it operational and beneficial for public use, the Hotel Occupancy Tax Fund subcommittee has requested the support of City Council for a funding supplement from the Hotel Occupancy Tax Fund during FY2016-2017.
Funding Source
Hotel Occupancy Tax Fund
Prepared By
Theresa Cohagen, Manager, Convention & Visitors Bureau
theresa.cohagen@mansfieldtexas.gov
817-804-5785