Top Headlines
Group Hopes TIF Plan Will Save Capitol
By CASEY JUNKINS
POSTED: March 15, 2008
Fact Box
SPEAK OUT ON CITY’S TIF PLANThe city of Wheeling will hold a public hearing regarding the tax increment financing project involving the 1100 block of Main and Market streets and the Capitol Music Hall at 7:30 p.m. Tuesday in Council Chambers on the second floor of the City-County Building, 1500 Chapline St.
Friend, executive director of the Wheeling National Heritage Area Corp., and Worls, chief executive officer of the Oglebay Foundation, hope that $2.5 million pledged by the city of Wheeling through its tax increment financing plan to renovate and repair the Capitol will aid in their efforts to purchase the venue.
A public hearing on the TIF proposal will be held Tuesday.
Live Nation, which owns the Capitol, shuttered the venue in May after Wheeling Fire Department inspectors uncovered 23 fire code violations. The building has been for sale since last summer with an asking price of $850,000.
Friend believes the Capitol must be purchased, renovated, managed and operated.
“Reopening the Capitol Music Hall must be an essential part of any downtown revitalization plan,” she said.
Friend said this week that she and Worls are leading a group that has been working to acquire the venue.
“We are members of a group of stakeholders who believe the Capitol must be acquired and renovated to ensure its long-term viability,” she said.
Friend said members of the group include representatives of the city of Wheeling, Ohio County, the Wheeling Convention and Visitors Bureau, the Regional Economic Development Partnership, the Wheeling Symphony Orchestra and WNHAC.
“All of us know just how vital the Capitol is to our mutual interests, so we have been working together to find a way to purchase the venue. Right now, it is still premature to say who would actually own the theater, but it would have to be some type of nonprofit community organization or governmental entity,” she said.
In addition to the $850,000 asking price for the theater, there are numerous repairs and upgrades that are required to be made by the new owners upon acquiring the property. Estimates on the costs of those repairs and upgrades have reached as high as $5 million.
“Clearly, this is not going to be cheap and it is not going to be easy, but we believe we have to do whatever we can to get this theater going again,” Friend said.
For the Capitol Music Hall, the TIF plan calls for $2.1 million to be used for addressing safety code violations, while $400,000 would be used for structural improvements.
Wheeling City Manager Robert Herron said the TIF money cannot be used if the Capitol is purchased by a private investor.
“None of that money can be used to purchase the Capitol, either. Right now, we are just trying to set up a way to make the project happen,” he said.
Worls said the TIF funding would do a great deal to help the cause.
“I am working to find grants to help with the project because the Capitol is such a great community asset that we have to do what we can to make it work,” he said.
Live Nation spokesman John Vlautin previously said the company — based in Beverly Hills, Calif. — does not discuss pending real estate deals.
Real estate agent Carl Nix of Harvey Goodman Realtor did not return calls this week seeking comment about any current options or dealings regarding the music hall.
Nix marketed the Capitol through last summer on behalf of Live Nation. In August, Wheeling dentist Dr. Manny Velez announced that he — along with Theresa and Jim Childers of Bellaire — had signed an agreement with Live Nation to purchase the Capitol; they wanted to have it up and running again by October.
On Aug. 23, Herron released a list of repairs and upgrades that anyone wishing to reopen and operate the theater must perform. Included on the list are installation of a sprinkler system, improved lighting and electrical upgrades that city officials say will make the venue safe for employees and patrons.
On Sept. 19, the contract Velez and the Childerses signed expired, placing the venue back on the market, where it has remained since.
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View Comments: | 1-8 | Post a comment
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Herisko
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04-14-08 5:56 AM
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The Capitol needs to be completely renovated and rehabed. Forget spending money on "upgrades". Think big. A foundation can be formed and money will flow in from such other foundations as Ford and Heinz, and you can hold charitable fund raisers from the public - I'll bet Sen Byrd would kick in if you organize it properly not half baked like your talking now. In fact you need to acquire WWVA and the Jamoree and revive the Jamboree like 50 years ago. Country radio is the biggest radio market of all the formats. Take a look at the Heinz Hall to see how to do it first class. After that the business will boom. Yes it would be a regional draw not local. RJH
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gliderider
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03-19-08 8:37 PM
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lmao..........tax em all crooks.................what a shithole....
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atoddh
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03-15-08 7:25 PM
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yourmon & jbowsher: The income to sustain the Capital was coming from the Jamboree USA shows.When AM & FM acquired the building and show, the then manager Larry Anderson turned WWVA to talk and neglected the show which declined during the 1990's.Proposals to save the show & income were turned away by the City.The only hope now would be to retain the show rights and redevelop the show. However this will cost millions in development costs,promotion,payroll and probable negative operating cash flows-beyond the renovation costs- until the show is reestablished.The loss of WWVA as a County station really hurt the operation.The Capital will have to again be a regional venue.It will not work as just a local venue such as those in Richmond or Columbus. Wheeing has less than 30,000 now and is declining.The winter gas bills, alone, at the Capital are in the $12,000+/month range - many,many tickets.
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yourmom
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03-15-08 3:52 PM
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Columbus and Richmond have the population to support something like that. Wheeling doesn't have the population now (or enough of a population who could afford ballet and theatre on a regular basis) to make refurbishing the Capitol worth it. People need to let go and accept the facts.
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jbowsher
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03-15-08 3:45 PM
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The beautiful Ohio Theater here in Columbus was once on its way to being demolished. It has been restored and offers a wonderful venue for the Columbus Symphony, BalletMet, and many Broadway shows! It can be done. Wheeling needs to find an investor who is willing to renovate the Capitol. How about Brad Paisley? He might be interested in saving the place where his career began!
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atoddh
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03-15-08 1:07 PM
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Whoever opens the Capital must be prepared for hundred of thousands in operating losses before the venue would break even-if ever.Will the Capital be able to participate in the repayment of the bonds? A complete renovation that would include asbestos abatement,ADA,fly system and cosmetics will be more in the 10 million range as has been the case with other similar renovations.Five million needs to be arranged for operations.So this is really a 15+ million project. Has a reasonable business plan been presented showing how the income will be developed? Will Oglebay Resort absorb the losses? The Capital is a workable project but will require a huge initial & ongoing investment. The HUD sources for funding this kind of project - used previously elsewhere - are no longer available due to War spending.The project will probably require major private investment.
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Donaldo
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03-15-08 12:07 PM
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if you want to see how an old, historic downtown theater can be removated, and add to the central city, take a look at the National Theater in Richmond, Virginia, which opened two weeks ago after being closed for decades. It came within inches of being razed, and now it's booked solid for months.
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joesr66
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03-15-08 7:05 AM
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The people who are doing all this talking why don't someone step up and take over the Capital Music hall but the city want to cantrol the people who buys it. All the people are talking about grants it only a hand out and that don't happen so all you people who saying it should be saved why don't you dip into your pocket and make it happen because talk is cheap.I have the impression that as long as it someone else money the ones who doing all the talking want to control this project. So why don't uyou people put some of your money up front it it such a worthy cause.Or do you think its a bad investment and seling stock in a project of this kind could be a good investment don't you think so?
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