With an August Wilson Center deal all but done, we'll look at the surprise agreementto sell the embattled downtown cultural center to a coalition of foundations for $8.85 million. A New York-based developer with plans of turning the building into a hotel has offered $9.5 million for the structure, but community outcry asking for the center to remain a locally held cultural institute apparently tipped the scales toward the foundations' bid. Tribune-Review reporter Natasha Lindstrom joins us for an update.
Lindstrom notes that some are unhappy about the deal -- including the unsecured creditors who were owed money and still won’t be paid under the conditions of the deal. But Lindstrom says the deal is encouraging for many others and shows an enduring passion and desire to see the Center thrive as a cultural center. And it will be greatly beneficial for the center, she says, to be moving forward free from its old debts.
