Arlington Heights will give the Metropolis Performing Arts Centre $300,000 to start a reserve fund and forgive a $75,000 loan.
The Village Board was split on the issue, leaving Mayor Arlene Mulder to cast the tie-breaking vote in a lengthy budget meeting Monday.
The village will give the theater the $225,000 May 1 when its fiscal year begins, taking out the $75,000 loan the theater asked for to cover operating expenses when it experienced cash flow issues last October.
The loan was due by May 1, or could be paid afterward with a 5 percent interest rate.
Theater director Charlie Beck, who took the helm last winter, said it was possible the theater would have been able to pay back the loan by May, but he could not promise that.
The Village Board also approved increasing its annual subsidy by 3 percent to $155,000. The village used to give the theater $250,000 each year, but that figure was reduced as revenues declined in the village. The board also agreed to spend $31,000 on capital projects.
Though most of the board was supportive of giving the theater the money and praised Beck?s business acumen, some trustees wanted the village manager and finance director to oversee individual payments to the theater, rather than handing it one lump sum.
Trustees Joseph Farwell, Norman Breyer, Bert Rosenberg and John Scaletta voted against the funds, while Thomas Glasgow, Carol Blackwood, Michael Sidor and Thomas Hayes and Mulder voted for the measure.
Glasgow championed the motion, placing his faith in new theater director Charlie Beck?s plans to revitalize the theater by bring in more shows and more donors. Glasgow said he has known Beck for 22 years.
?Sometimes, if the arts aren?t supported by the government, they cease to exist,? he said. ?If we don?t do this and we don?t support (Metropolis) now, no one else is going to.?
He, and other trustees, believe Metropolis is an economic engine that brings people to downtown Arlington Heights.
Beck?s best estimate, based on theater patron surveys, was the theater brought in at least $1.5 million in revenue to nearby restaurants and shops.
Farwell suggested the village hold the money until the theater needed a specific sum. Theater management would send a financial report to the village, Village Manager Bill Dixon and Finance Director Tom Kuehne would review the report and then distribute the funds. He and other board members wanted to see some checks and balances imposed on the theater.
?This is not our money, this is not your money,? he said. ?This is the citizens? money.?
The money will come out of the arts and entertainment fund, which was established to support the theater through a 0.25 percent tax on food and beverage. The village effectively borrowed $300,000 from arts and entertainment to fund operating expenses during the past several years as it battled falling revenue.
The village is now in a financial position to essentially pay that money back to arts and entertainment, which will be given to the theater, officials said.
Beck has big plans for the theater, including increasing revenue by about $1 million next year, but he also plans to spend most of that amount, particularly on more marketing. He wants to increase the number of shows, bring in bigger artists and possibly launch summer concerts in local stadiums.
He is also looking for more donors, from families willing to part with a few thousand dollars for several years to major corporate sponsors willing to shell out around $250,000.
He is also considering selling naming rights to the stages.
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