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Business plan options for Oneonta Theatre

Webb Management Services presented three plans with different price tags Tuesday after completing a feasibility study for the Oneonta Theatre renovation.

Posted: Feb 19, 2019 11:49 PM

ONEONTA, N.Y. -Webb Management Services presented three plans with different price tags Tuesday after completing a feasibility study for the Oneonta Theatre renovation.

The Oneonta Historical Society and Friends of the Oneonta Theater, hired Webb Management Services, which is a consulting firm to explore the idea of re-opening the Oneonta Theatre. 

Tuesday night, the final presentation was presented to the community, and city leaders at the Foothill Performing Arts Center. 

The feasibility study was based on the information gathered so far on this project, and Webb Management Service's experiece with other communities that have done that same type of thing and became successful. 

The $60,000 feasibility study examined whether the theatre could be a success, and there were three business plans proposed These business plans also include upgrades to the Foothills Performing Arts Center. The three budget options were referred to as good, better, and best.

The budget options are:

GOOD -  $3.2 million

BETTER - $6.3 million

BEST - 10.3 million

The experts of this study say the biggest obstacle now is how the community will raise the funds to renovate and sustain the building, but the president of Webb Management Services has some ideas. 

"It sort of builds tourism we hope, this idea of a district with the theater," Duncan Webb, President of Webb Management Services said.  "It helps to bring Suny Oneonta downtown, and creates sort of a more integrated relationship between the university and the city. It attracts high level artists to come and perform here, it lifts up the local cultural community."

The next step is to decide which business plan to go with and how to start fundraising. 

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