The building could also be used as a site for independent or community based theater productions. There would be a high seating capacity, and lots of space for storing props, as well as rehearsal. If the productions would take place in the summer, there would be no extra heating costs.
There could be 36 performances a year (six every month from April September with the exception of the first week of each month, which is reserved for the market) at $10/ticket and approximately 60 people attending each show: Profit per year: $21,600
This sum could be used for rent and restoration, actors could be paid some money, and it would cover the cost of the productions.
Community members have expressed an interest in using the space for private events, such as weddings, art shows (art students are frequently looking for venues for their exhibitions), community meetings and workshops (such as craft, dance, or theater workshops and performances.)
The events could take place in the last three weeks of each month.
Lease could be at $500/week.
8 programs a year: $4000.
In a careful estimate, the market with additional general leasing could generate $8.000 $12.000 per year. This amount allows for monthly rent payments of approximately $700/months, and leaves at good outturn profits that could be used for building restoration or reimburses the organization or individuals in charge.
WORK TO BE DONE
In order for the building to be safe and accessible for the public, several improvements would have to be made:
-To make the building wheelchair-accessible a ramp could be built at one of the front entrances (possibly at the larger front door / former loading ramp)
-The restrooms on the second floor should be restored or a wheelchair accessible restroom could be built on the ground level, to close off the second floor for traffic.
-Heating could be an issue in the winter months, but as the figures show the building doesnt necessarily have to be occupied during the winter to cover the costs.
-The wall-paint has to be tested for lead; a new coating might be necessary. The legal issues include:
-Zoning for commercial use.
-Patronage and financial accountability of the project.
For further information on markets visit http://www.openair.org