Council unanimously agreed to end the agreement following a closed session at this evening's meeting.

The motion made by Councilwoman Carol Cowen was that the parties mutually terminate the lease with HSV effective May 30.

Council members referred questions about the matter to City Attorney Gilbert Chichester following the meeting.

Chichester would only immediately say the action was “just a mutual agreement to terminate the lease agreement.”

The city attorney acknowledged that the company paid all its obligations centered around the lease, but would not immediately divulge details as to why the parties agreed to end the commitment, which was set to expire at the end of next month.

Chichester did say the city was entering into negotiations with Bank of America to restructure the city's debt on the theater.

That news of the end of the lease agreement comes during the city's current budget deliberations for the upcoming fiscal year does give cause for worry, Chichester said, adding, however, “We believe the city will be able to meet its obligation.”

Mayor Emery Doughtie would only say that Chichester helped guide council through the negotiations with HSV and relied on his expertise.

The city said in a statement issued after this evening's meeting that it has no immediate plans to lease the theater to another individual or organization at this time. “The city administration will consider what options are advisable for review before making any recommendations to city council as to future operations at the theater.”

A representative of HSV was not immediately available for comment this evening.

The city first agreed to a lease with HSV in 2012 and last year struck a deal with the company for the current 10-month agreement.