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SOUTHERN CALIFORNIA / A news summary

CRA Approves Loan to Theater Company

November 03, 2000

NORTH HOLLYWOOD — In another boost to the fledgling arts district here, the Community Redevelopment Agency on Thursday approved a loan increase of $400,000 to the American Renegade Repertory Company.

The loan will be used to pay off the theater's balance on its mortgage and to install theater lighting.

David Cox, artistic director for the company, said the loan will improve the quality of productions and the theater's ability to rent out space, an important revenue source. After the 1994 earthquake, the theater's former facility on Magnolia Boulevard was condemned and torn down. The new site on Lankershim Boulevard opened in January.

Since the quake, the CRA has funded the theater with $1.2 million in loans and grants. Some residents who are critical of the CRA's redevelopment efforts in North Hollywood say that's too much cash.

"Will they need more?" said Victor Viereck, a member of the redevelopment zone's project area committee and a candidate for City Council. "When will it stop?"

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