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Tuesday, 18 March 2014 20:47

HSV asks for 10-month extension on theater lease

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Hickey talks to council this evening. Hickey talks to council this evening.

HSV Entertainment this evening asked city council for a 10-month extension on its lease for the Royal Palace Theater.

That the company asked for the extension, both HSV partner Jay Hickey and Mayor Emery Doughtie said, is a positive sign for the direction the venue is headed.

Hickey spoke to council during a public comment section of the meeting. “I appreciate the support over the last 18 months. The first seven years (before HSV gained the lease) gained quite a bit of notoriety. We had the chance to make a successful business model.”

The plan to put in Internet sweepstakes machines worked well until a state Supreme Court ruling changed the model. “We made changes accordingly,” Hickey said. “We're optimistic about the way the theater is going. Public opinion is positive.”

The theater has booked 43 shows since taking over operations, he said, adding a dozen benefit shows as well. “We feel like we're going to continue to get better talent.”

HSV has put $300,000 into city coffers since the lease agreement and spent some $250,000 in advertising, It has paid some $347,000 in insurance and maintenance. Jobs and security expenditures have been more than $1 million, Hickey said.

He requested the 10-month extension as a way to get a historical analysis of the business model since the state Supreme Court ruling.

“We thank you and your business to help keep the theater open,” Doughtie said. “The theater can be a hub to develop all that property.”

Following the meeting Hickey said the request is a positive sign. “We think it is. We're here for the long haul. It's building back up.”

 

 

 

While council did not immediately approve the request this evening, Doughtie said the city will be checking with its attorney and the city manager. “We want to make sure what we're doing is legal. With that being said we want the best available option so we can do what's best for the city of Roanoke Rapids. I think it's good news for us. It's good news for HSV. We want to continue the relationship.”

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