The money has been received and the transition of operations of the Roanoke Rapids Theatre to HSV Entertainment LLC was consummated today.

City Manager Joseph Scherer said the LLC sent Bank of America the first and last month’s rent and a $50,000 deposit. First month’s rent on the building is $12,500 and the last month’s rent is $14,500, according to the contract the city struck with HSV.

The city manager said it was still too early in the process to discuss what shows may be coming to the venue. “They’re looking at trying to get acts booked before the end of the year.”

In a press release issued late this afternoon the city said HSV Entertainment would function as the primary company to book entertainment and other activities at the theater.  While the City retains ownership of the property, HSV has signed a tenant lease with a purchase option.

“The City will realize a financial benefit from this arrangement by utilizing lease compensation to help pay a portion of the theater’s original financing commitment, along with the community receiving an economic benefit from increased tourism traffic for theater events,” Scherer said in the press release.