Victory Theater Wins Big
By John Henley Jr.
The Morning News
ROGERS – City officials and patrons and supporters of the Victory Theater have something to celebrate.
Rob Brothers announced on Friday a $750,000 challenge grant to the Rogers Little Theater Board of Directors from the Walton Family Foundation.
Walton Family Foundation representative Rob Brothers, left, and Rogers Little Theater Board of Directors president Dick Barclay listen as Rogers Mayor Steve Womack announces his intent Friday to ask the City Council for $500,000 to help the theater during a new conference at the theater.
The matching grant will help save the Victory Theater, which the Rogers Little Theater group has called home for 21 years.
The grant requires the theater to match the $750,000. Brothers is president of Arvest Bank in Rogers and will serve as chairman for the theater’s capital campaign.
“The plan to save the Victory Theater appears to be falling into place, as hoped,” Mayor Steve Womack said.
The Rogers Little Theater owes about $1.8 million, according to an e-mail sent in November from Womack to council members. The debt is the result of renovation costs from several years ago.
However, the theater has been unable to pay off the debt and there was a threat of foreclosure, Womack has said.
Womack said Friday he will present an appropriation ordinance to the City Council on Tuesday that will give $500,000 to the theater. The money comes with a condition: the city will take ownership of the building once all of the debt is paid.
That will provide two-thirds of the theater’s portion of the challenge grant.
However, “we will still have to do some private fundraising,” Brothers said.
The ownership provision was key to the city’s participation because those who donate money to the theater need to be assured it will continue in perpetuity and the facility will never be at risk again, Womack said.
Other keys to the city’s participation were the challenge grant, a private fundraising campaign and a willingness by banks that are owed money to come forward and express a willingness to help, Womack said.
All of the banks have done that, said Dick Barclay, president of the Rogers Little Theater board.
Most of the banks involved have agreed to reduce what the Victory Theater owes them by about 27 percent, Womack said. Arvest and Arkansas National Bank are just two of the many banks that are owed money by the theater, Womack said. Barclay refused to name any of the banks on Friday.
There are also a few individuals to whom the theater owes money but there was no announcement as to whether they would forgo payment.
Brothers said it is hoped that the theater can raise $2 million. Womack said with challenge grant, the city’s money and the banks reducing the debt owed them, the theater will need to raise between $350,000 and $400,000 to reach $2 million.
Womack said he is interested in efforts to save the theater because he believes arts are good for the community and the Victory Theater building is important to the revitalization of downtown Rogers.
“We have a stake in downtown Rogers and we fund Main Street Rogers,” Womack said. “We are interested in the long-term viability of the Victory Theater. Therefore, we are certainly interested in partnering with other (entities) in an effort to help.”
As owners of the facility, the city would have non-blackout dates for free use of the facility for city functions.
The Rogers Little Theater Board will sublet the theater and be responsible for running the theater and for employment and salaries of staff, Womack said.
Revenue from tickets sales and theater functions will go back into the theater’s operation, Womack said.
GO & DO
Rogers Little Theater Play Schedule
* Bye Bye Birdie
Today, Sunday, Feb. 28-29, March 1-2
* Brighton Beach Memoirs
April 11-12, 17-19, 24-27
* The Foreigner
June 6-7, 12-14, 19-22
* My Fair Lady
July 25-27, July 31, Aug. 1-3, 7-10
Source: Rogers Little Theater
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