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Ann Novak, representing the Chamber of Commerce, reported on what Redwood City's support in dollars had provided to the citizens of Redwood City. Eugenie Watson, Board Member of Peninsula Center Stage, described Recommendation No.1, the agreement with Peninsula Center Stage to support productions at the Fox. Betty Moran, Redwood City Civic Cultural Commission member, described Recommendation No.2, the Commission's grants program and support of the Fox Theatre productions. Jack Anthony, Redwood City Senior Affairs Commission member, reported on Recommendation No.3, Redevelopment Bond funding for improvements to the Theatre at a cost of $300,000. Mr. Anthony described the three (3) recommendations, including a study of the realistic level of use of the Theatre, an architectural study for restoration, and the remainder of the funds held for physical improvement projects. Mr. Anthony advised that the Task Force wanted guidance from the Council in determining: if or how the City should invest in a non-profit building. If the City does wish to support the Fox Theatre building improvements with Redevelopment Agency funds, should it be through an equity interest of the amount expended, by loans to be repaid, or by grants? Joanne Thompson, Redwood City Historic Resources Advisory Committee member, reported on Recommendation No.4, and was pleased to announce that the Fox Theatre's application to the National Registry of Historic Places had been accepted. Ms. Thompson advised this designation would open up new avenues of funding. Chairperson La Berge acknowledged the Task Force members in the audience. Advisor to the Task Force, Corinne Centeno, summarized the questions the Task Force members had raised throughout their meetings, and asked for Council guidance. Council Members asked Peter Bliznick, Director of Peninsula Center Stage, questions concerning cost of production, financial statements, governmental subsidies in other cities, policy on pursuing grants, its donor base, and annual contributions from the City of Palo Alto. Mr. Bliznick advised that the PCS would be "historically sensitive" to the Fox Theatre. Council Members discussed the need for a reversionary clause in any agreement that would include a significant investment of the $300,000 Redevelopment funds for physical improvements to the Fox Theatre. MEMO 3/15/94 Councilwoman Gasparini asked staff to provide information regarding costs of a City owned Cultural Center. MEMO 3/15/94 MINUTE BOOK NO. 52 Regular City Council Minutes Page No. 165 March 14, 1994 Page 4 . - -..... ,-- ,