Megann Horstead | For the Bugle
In response to supporters’ cries to save the Rialto Square Theatre, Joliet City Manager Jim Hock suggested that officials consider his funding proposal.
During a recent meeting, Hock proposed an idea that would allow the city to takeover the Rialto and its operations to keep the doors open.
“What I propose is adopting a resolution asking our senators, state senators and representatives to introduce legislation that transfers ownership of the Rialto Theatre and their properties to the city,” Hock said. “The city will sell the office buildings that aren’t part of the theatre to the private sector. We’ll pay off all the bills that the Rialto board has approved for payment but have not paid, and we’ll assume the renovation loan obligation of approximately $2.4 million.”
Hock said as many in the city know, a constant mantra they hear is save the Rialto, and officials have done that in a number of ways throughout the last year.
The city advanced a quarterly budgeted amount, valued at $150,000, to the Rialto Theatre in March. That action allowed $110,000 of that to be paid directly to the state and federal government for unpaid payroll taxes.
In April, Joliet officials asked the Rialto board for access to their financial information before any additional funds could be released; they refused. The city took action later that month to save the Rialto by paying for two scheduled performers that would’ve canceled their shows and left ticket holders without a refund.
In August, the Rialto board selected a third party vendor, VenuWorks, to run the theatre knowing that their proposed operational model had a deficit.
When the city highlighted a proposed a 2017 budget last month, no funding for the Rialto was shown. A number of supporters of the theatre were in attendance during that meeting to plea their case for the theatre. The council is expected to pass a budget later this month.
“Last week, council received a proposed intergovernmental (agreement) from the Rialto requesting us to commit funding for four years,” Hock said.
That agreement calls for a $500,000 allotment.
Hock’s proposal suggests that an alternative funding solution is necessary.
Hock said the city would manage non-concert events—like weddings and recitals— and enter into contracts with Harrah’s and other entertainment vendors to put on concerts and performances. The Rialto buildings would also be added to the city’s engineering consultant facilities evaluation contract, which is currently underway, to evaluate physical conditions and determine what capital improvements are required, he said.
“We want the foundation to continue and work closely with them because they qualify for grants that local governments may not qualify for,” Hock said. “This proposal seems to me, like, a natural progression of the commitment the city has made to the downtown. We own the baseball stadium, the building in right field, Union Station, soon a new train station and a new bus station, along with the (Joliet Area) Historical Museum.”
Hock said if the city is looking to continue with investments to implement the downtown development plan, they must ensure that concerts and other performances are scheduled at the Rialto.
Hock emphasized that doors to the theatre must remain open for all community events held in the downtown.
After the meeting, Hock said it was unclear when the council would look to consider his proposal.