Colony Theatre Association asking for tax abatement
By Sam Shawver | Published by The Marietta Times
May 31, 2013
Hunt Brawley, director of development for the nonprofit Hippodrome-Colony Historical Theatre Association, asked members of Marietta City Council’s finance committee Thursday to consider approving a community reinvestment area (CRA) that would benefit the Peoples Bank Theatre (former Colony Theatre) renovation project.
The Ohio Community Reinvestment Area program is an economic development tool city governments can use to provide tax abatements for property owners who renovate existing buildings or construct new facilities. But to qualify for a CRA the property developer must be a for-profit company.
“Hunt brought in an application for the creation of a new CRA, but nothing can be done until the theatre association becomes a for-profit entity,” explained Andy Coleman, Marietta’s development director.