Whether open or not, the Alabama and Lyric cost more than $40,000 per month to maintain the status quo. How could that be possible? Easy.
- Insurance is significant,
- HVAC remain on to prevent mold from invading the century-old plaster,
- Both theatres must be cleaned regularly,
- Taxes must be paid, and
- Normal physical deterioration (roofs, electrical, plumbing, etc.) must be addressed on a regular basis whether any events are held or not.
Also consider this…
Image if you hosted tens of thousands of people to your century-old home. That’s what we do on a regular basis. As such, we’re constantly faced with dramatic wear and tear such as worn carpets and fabrics, paint and plaster repairs, clogged plumbing, electrical issues, and a myriad of other needs–not to mention unplanned structural issues with our signage, leaking roofs, and broken HVAC systems–with no way to cover such costs in a planned way.