HOT OFF THE PRESSES... LA GRANGE THEATRE RESTORATION

Hot off the presses ... is the Village Board's tentative informal 4-3 decision Aug. 25 to agree that giving the owners of La Grange Theatre up to $1.725 million in surplus tax increment finance district funds is an appropriate policy decision worth exploring.

We, of course, want to know what you think.

A minority opinion called for a possible post-TIF district policy, when the district expires next year, to explore other funding sources like community fund-raisers and, possibly, loans.

Others said the facade and marquee restorations were more important than anything in the $3.13 million project and that maybe the money should be considered a loan instead of a grant.

As promised, the property owners would agree to put up $1 million more and the La Grange Business Association pledged $50,000 toward marquee work on the project, which includes rehab of all four auditoriums, more and newly placed restrooms, new equipment and utility systems, and a new indoor/outdoor retro lobby and concession stand.

Trustee Mark Kuchler summed it up best, even though those in favor of the onetime gift to John Rot and David Rizner seemed more convincing in their positions, when he said he was not in favor of giving up $1.725 million for the rehab and restoration of the movie house.

"The level (of funding) is an issue ... (but I don't need the best looking lobby or community room cause we already have (one in) the library, Park District, here," he said. "I don't want to tell you how to do your business, but when you're here asking for $1.7 million, I guess that allows me."

Trustee Mike Horvath also chimed in, noting this is not a TIF-eligible project.

"This one borders on crossing the line (as far as TIF abuse)," he said, later adding, "It's troubling to me that government entities are always moving in to save the day. I don't see that as a role in a big way of a municipality. There's nothing that meets the TIF standard."

Horvath, who also suggested "a community effort" be started if it is such an asset, said the theater owners need to "get more creative" and asked whether La Grange is "a ending institution or venture capital opportunists."

Village President Liz Asperger, however, likened the funding to the $5 million of property the village purchased to spur economic development on the Triangle property, investment in the parking deck or the $1 million in planned intersection upgrades at La Grange Road and Ogden Avenue.

"This is our role as a government body, to take a long-term view of this and ask 'Is there some risk? Yes. Is there a potential reward? Yes, more than some.'" she said. "This is affordable family entertainment, the theater acts as an anchor. It's an economic engine and provides in part that sense of place, that sense of pride. (And) it's an appropriate TIF project."

Trustee Mark Langan also defended the one-time grant, calling the village a bridge between the business community and its residents.

"This is an opportunity for us to do something unique," he said. "We've got to do something to keep economic development going ... and this is an economic decision."

So the question remains: Is this a municipality's role, to save and preserve an historic building that is privately owned? How much is enough and how much is too much?

Also, is the theater renovation something community residents should try to raise money to do?

We agree with the board majority that it's a community asset and one that needs to be preserved. After all, the village restores its historic train stations -- the Stone Avenue work is coming up -- and the old Town Hall where it works and hosts meetings.

But we know some of you don't agree. Please us know how you feel.