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ROLLING HILLS ESTATES : City Council Votes to Sell Site to Theater

August 11, 1994|JEFF KASS

After more than a year of talks, the City Council voted Tuesday to sell a vacant post office building to the local Norris Theatre.

The theater will use the city-owned site rent-free and has the opportunity to buy it for $500,000 during the next 3 1/2 years. It can wait up to five years to purchase the property, but by then the price will rise to $600,000, under terms of the agreement the city approved.

The city-owned metal-sided building lies on 1.3 acres at Indian Peak Road, near the Peninsula Shopping Center.

The council voted 4 to 1 for the agreement, with Councilwoman Jacki McGuire, who opposes selling any city property, dissenting. The city has not been able to snag a commercial tenant for the site.

The nonprofit theater is across the street from the post office, and theater officials want to operate the building as an additional 99-seat theater and use it for office space.

Richard Moe, co-chairman of the theater management board, said he hopes to raise $1 million to renovate the post office building.

The theater board must still approve the agreement, and a vote is expected Sunday.

The main sticking point between Norris officials and the city was the value of the post office site. An appraisal commissioned by the city came in at $745,000, while one commissioned by Norris came in at $271,000, said Judy Smith, Rolling Hills Estates finance director.

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