Bank of America has agreed to release the city from its deed of trust to make it easier to sell the Roanoke Rapids Theatre.
The city is drafting proposals for Bank of America to review following last week's meeting with its representatives to discuss financing solutions for the theater.
Much of the discussion during a Roanoke Rapids City Council work session this evening centered on the theater and what to do with it now that the lease agreement with HSV Entertainment officially comes to a close in four days.
Bank of America has tentatively approved a lease agreement that would allow HSV Entertainment to continue to run the Roanoke Rapids Theatre as the Royal Palace Theatre.
