Incentive: Syracuse Municipality Approves $ 2M Loan for Landmark Theater, $ 4.5M for Sidewalks



Syracuse, NY – Seats at the historic Landmark Theater will be replaced for the Charlie and the Chocolate Factory opening next fall thanks to a $ 2 million bridging loan approved by the General Council on Monday.

The theater renovation loan was among the roughly $ 10 million in federal stimulus money the council agreed to spend Monday.

City officials stepped in to help Landmark because other funding to renovate theater seats and marquee were delayed due to the coronavirus pandemic, said Khalid Bey, a member of the Freedom Council. Without a direct source of funds, the renovation could not have been completed by the fall season, Bey said.

State legislators have pledged $ 2 million for the project, but this is a refundable grant payable upon completion. Theater officials have agreed to pay the city money when government money arrives.

Mike Intaglietta, the theater’s chief executive, said more than 2,700 seats are due to be replaced by September 30, when Charlie and the Chocolate Factory are due to move.

The show will open on October 12, and by that time the theater executives hope to have a new tent set up, he said.

The city of Syracuse will receive $ 123 million in stimulus money as part of the federal American Rescue Plan Act. Half of the cash is already in stock; the rest next year.

Mayor Ben Walsh outlined plans to spend money… On Monday, the council voted in favor of the first of Walsh’s proposals, approving an estimated $ 10 million in stimulus spending. In addition to the Landmark loan, the council awarded:

$ 4.5 million for city ​​sidewalk program;

$ 1.3 million to pay for 2,000 children who will participate in continuing education programs until 2023;

· $ 300,000 for a new police sports league;

· $ 677,000 to improve safety in garages;

$ 55,000 for a pavilion along the Onondaga Stream in Meecham Park;

· $ 175,000 to replace the fence around the Pass Arboretum;

· $ 800,000 to renovate the pool and water feature at Burnet Park.

Walsh also offered to allocate $ 4 million create a revolving enterprise loan fund managed by Syracuse Economic Development Corp. This proposal was left for further study.

Many advisers support the concept, but want to discuss more details on how the loan fund will work, said Bey, chairman of the economic development committee.

“Today is another big step forward in rebuilding our city from the Covid-19 pandemic,” Walsh said. “The General Council approved the first eight ARPA investments for residents of the city of Syracuse.”

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