City Council Votes to Establish Donation Account for Golden State Theater
Updated On: Jan 22 2014 03:28:21 PM CST
The Monterey City Council is making slow progress in it's potential purchase of the Golden State Theater on Alvarado Street.
The council received a report Tuesday evening from a city council sub-committee to authorize spending up to $20,000 for what's called a 'Facility Condition Assessment' of the downtown theater.
Staff reported the informal proposal for the building assessment to be $16,745.
After discussing the spending, city council members did not vote on the issue.
Instead, the council voted to authorize the creation of a separate account to accept donations for the Golden State Theater due diligence costs.
The first fund raising event is already scheduled for February 1, in the Golden State Theater from 5 to 10 p.m.
Central Coast News has been following the story since last year. In September 2013, the sub-committee was formed. It was reported that after reviewing the theater property, the City of Monterey could seek special funds to buy it.
The downtown property is currently valued at nearly $5 million dollars.
At the time, it was reported the money for the Golden State Theater project would likely come from a tax measure on the November 2014 ballot.
In November 2013, Councilwoman Nancy Selfridge told Central Coast News, the Golden State Theater was "a gem we need to take care of and preserve for future generations."
Selfridge added, "It's a beautiful historic building and we want to keep it that way. We want it to be the center piece for downtown."
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