The Sierra School Of Performing Arts said it could not reach an agreement with the seller of the Lear Theater, Artown, to take over the building.The fate of the Lear Theater, is currently surrounded by mystery. "We were on the same page. The next day Artown said they were not going to negotiate anymore and the deal was off the table. Unfortunately we don't know what really happened," said President of the Sierra School Of Performing Arts Judy Davis-Rounds.“The Artown Board Of Directors will be meeting on Thursday. After which a formal press statement will be prepared and released to update the general public on the status of the Lear Theater,” said Artown Marketing Director Oliver X.
Artown isn't talking until after the statement is released. The school is also limiting their comments. “Unfortunately they had a non-disclosure statement. So I can’t discuss the details of the negotiations,” said Davis-Rounds.
The theater originally closed its doors in 2012 and Artown is looking for the right organization to reopen it. In April of 2018, a committee narrowed its list of bidders to 4 finalists. In May, the seller, Artown, chose the Sierra School of Performing Arts.“It was going to become a community event center for all of the performing arts organizations in the area,” said Davis-Rounds.
The school's president says tax credits have already been looked into to help pay for the cost of renovations. “We were looking at between $10-$13 million to resurrect the Lear Theater,” said Davis-Rounds. The school said they spent over $10,000 on consultants and putting together a development team.
“We will look ahead to acquire a new building,” said Davis-Rounds. “We are looking forward to updating the public,” said Oliver X.
