Alameda Theatre cuts check to city
The money will be used to help the city pay down its $7 million loan for the downtown parking garage.
The city charges the theater’s owner, Kyle Conner, a base rent plus 15 percent of gross sales over $3.25 million. City officials thought it would take Conner, who opened the theater in May 2008, three years to hit that target. But he handed them a $162,390.12 check this week.
The theater complex restoration and garage project cost a combined $30 million.