TO: Mayor and Members of City Council
THRU: Kelly Olivera, Assistant City Manager
FROM: Christopher Cauley, MPA, Economic and Community Development Director
DATE: June 26, 2023
RE:
Title
Funding Support for the Cape Fear Regional Theatre at Fayetteville, Inc.
end
COUNCIL DISTRICT(S):
Council District(s)
District 5
b
Relationship To Strategic Plan:
GOAL II: The City of Fayetteville will have a Responsive City Government supporting a diverse and viable economy
• 2.2: To invest in community places to ensure revitalization and increase quality of life
GOAL IV: The City of Fayetteville will be a highly desirable place to live, work and recreate
• 4.2: To enhance diverse recreation, leisure and cultural opportunities
Executive Summary:
North Carolina General Statute 160A-488 allows for the City to support arts programs so long as the facility is open to the public. City Council is asked to authorize the attached resolution to fund expansion and renovation at the Cape Fear Regional Theatre at Fayetteville, Inc. based upon their request made during the City Councils Fiscal Year 2023 budget process.
Background:
During the Fiscal Year 2024 Budget Planning process, The Cape Fear Regional Theatre at Fayetteville, Inc. (CFRT) requested that City Council support funding for expansion and renovations to the facility. Council directed staff to include funding in the amount of $2.5 million dollars over five years in the Fiscal Year 2024 Budget.
Issues/Analysis:
Funding would be utilized for the expansion and renovation of the facility located at 1209 Hay St. in Fayetteville, NC. Construction is expected to begin in the summer of 2024. The payment over five years is contingent on the availability of funds through annual appropriations.
Budget Impact:
The first year of $500,000 annually will be available in the Fiscal Year 2024 General Fund budget upon adoption by City Council.
Options:
• Authorize the Mayor to execute the attached resolution to fund expansion and renovation at the Cape Fear Regional Theatre at Fayetteville, Inc.
• Do not authorize the Mayor to execute the attached resolution to fund expansion and renovation at the Cape Fear Regional Theatre at Fayetteville, Inc.
• Direct Staff to some other action.
Recommended Action:
Authorize the Mayor to execute the attached resolution to fund expansion and renovation at the Cape Fear Regional Theatre at Fayetteville, Inc.
Attachments:
Funding Resolution for CFRT 23-24