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ARK Group
• Pay $550,000.
• Begin work on renovating the theater within 18 months and open it for public entertainment by January 2015.
• Build a multi-story office/retail building in front of and over the theater. Put both properties on the city’s tax rolls.
• Make the theater available for minimum of 100 civic and nonprofit events annually; reduced rental rates would be offered for nonprofits and civic groups.
Foundation for the Carolinas
• Pay $1.
• Historic renovation of the Carolina Theatre. Work to begin no earlier than three years.
• Build a “boutique” mid-rise office building spanning above the property, with civic organizations as its primary tenants.
• The theater would be dedicated to civic uses such as lectures, town hall meetings, symposiums and panel discussions. Public entertainment would be offered on weekends with a private sector partner, providing an income stream to off-set operating costs.
CMP Carolina
• Pay $250,000.
• Put the property back on the tax rolls immediately.
• Restore Carolina Theatre “to its former glory” for public and private use.
• Build a mixed-use building on the front parcel, to be fully complete in five to seven years. A restaurant and retail area would be on the first floor.
CMP proposals in the past have called for either a hotel or luxury condos on upper floors, depending on the market.
