Stellar Communities grant will turn lights on in 2014 at old Princeton theater

Stilwell and Debbie Bennett-Stearsman, the vice president for community development of the Economic Development Coalition of Southwest Indiana, met with the Princeton City Council in special session Monday night. 

“I’m here with good news,” said Bennett-Stearsman. The city of Princeton was awarded $3.4 million and can move forward with plans to renovate the empty theater building.

The Princeton theater renovation is one of the Stellar Communities projects in the city’s $22 million grant budget checklist. 

The $3.4 million is designated for purchase and renovation of the downtown   Princeton theater, Bennett-Stearsman said.

The old Princeton theater will be renamed the Princeton Community Center Theater, new home to the non-profit Gibson County Theatre Company, which is  purchasing the theater.

The vision is to restore it to a live, performing arts venue. Over the years, a large auditorium was divided into four separate smaller theaters for motion picture viewing. The original stage was mothballed but still exists behind the movie screens. 

Language in the deed gives the property back to the city, if for some reason the organization were not successful during their time at the property, Stilwell said.

The Gibson County Theatre Company, which has been in existence for about a decade, presents four shows per season and has an annual revenue of about $50,000. 

They’ve been using school theaters and other venues in the area to stage their performances. 

The theater, currently owned by Kyle Johnson, is  appraised at $170,000 but the actual cash being paid out of grant funding is $70,000, Stilwell and Bennett-Stearsman said.

Stilwell said that they always look at the worst-case possible scenario even though the Gibson County Theater Co. is a thriving group with excellent people in it. Risks must be weighed, so if for some reason the group disbands, the theater will be in the proper hands — the city’s.

“If for some unforeseen reason that did not work out, then the city would have the right to take that back,” Stilwell said. 

The new community theater would seat about 325 people.

Downstairs and upstairs renovations also include large areas for events such as wedding receptions and showers, Bennett-Stearsman said. Those will be available for rent. 

Senior citizen groups or organizations like Boy or Girl Scouts might be exempt from rent if they’re using the room for an hour or so, she said.

That’s why the plan is designed the way it is, they said.

The reason Princeton got the grant money has a lot to do with the community rooms, perhaps more than the theater, said Mayor Bob Hurst. 

“The purpose is that we have some events that bring many people,” said Bennett-Stearsman.

Any income received by  Gibson County Theatre Co. in their new location will be GCTC’s, and any expenses  accrued will be their own expenses, confirmed council member Dean Enyeart. 

The limit of the expenses of construction and renovation is capped at $3.2 million, Bennett-Stearsman said. 

The city’s investment is around $50,000 for the entire project, she said. 

“Does anybody know where we’re going to park?” asked councilman Larry Matthews.

Mayor Hurst said only a handful of cars were parked in the city parking lot when the appraiser took photos.

Matthews said he was talking about when events that bring 300 or more people were happening. In the event that the parking lot (which currently has about 264 spaces) has less space because of the future Bicentennial Plaza, parking could be an issue.

“We would hope it fills it up, and it spills into the city,” Bennett-Stearsman said. If people are parked in front of restaurants or around downtown it will most likely bring more business to the square, she explained. 

Theater renovations will be completed around August or September 2014 and GCTC is responsible for maintenance after that.

The council gave Hurst and Clerk-Treasurer Mindy Brines authority to sign documents as needed to complete the work.  

Stilwell verified that he looked at the grant documents and there’s nothing that needs to be changed.

Acceptance of public bids will be handled through the city.

Hurst said they are thrilled to be moving forward with the grant.

He called it “free money” but then said, “somebody paid for it obviously but if we didn’t get it, somebody else would.”

It’s just hard to get my head around $4 million going into that theater,” Matthews said. 

“It’ll go faster than you think,” Bennett-Stearsman said. “And they have some great preliminary plans for the building,” she added. 

Everything must be completed on the theater by 18 months from this past February, Stilwell said.

Other Stellar Communities projects to be completed are Indiana Department of Transportation (INDOT) projects, Hurst said. Soon, they’ll begin proceeding on plans for the Bicentennial Plaza and senior housing.