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May 9, 2018 <br /> Council Member Murphy expressed concern about the losses reflected in <br /> the historical financial results over the last nine years. He noted rents <br /> received for the Theatre are far below the costs, and questioned the <br /> arrangement whereby the City is paying the Village Theatre for managing <br /> the Theatre, while the Theatre is also the primary tenant paying rent to the <br /> City. <br /> Kimberly Shelton, Assistant Parks Director, stated the Parks Department <br /> has been analyzing financial information and would like to have additional <br /> time to determine best practices for managing a performing arts center <br /> and evaluate potential incentive-based revenue options. She stated there <br /> are immediate actions that may be taken by the City, such as adjustments <br /> to rent, and that Parks staff will present a recommendation for revised <br /> rates to the Council in the near future. <br /> Moved by Council Member Murphy, seconded by Council Member <br /> Moore, to table action until the current contract expires in August to <br /> allow time for City staff to structure a new agreement. <br /> Council Member Tuohy expressed concern that the Village Theatre's <br /> scheduled not be disrupted. <br /> Council Member Stonecipher stated she would prefer the Council approve <br /> the agreement for one year to allow Parks staff to evaluate the model. <br /> Council Member Moore stated he needs additional time to evaluate the <br /> information that was provided this morning. <br /> Paul Kaftanski stated City staff can provide a briefing prior to Council <br /> taking action on this item. <br /> President Roberts stated his preference was not to take action to table. <br /> Council members reached a consensus to reschedule this item for action <br /> after City staff is able to provide a briefing to the full Council. <br /> 152 <br />