The Pembroke City Council unanimously approved a deal with Billy Miles Tuesday for the trade of a 53 acre tract of land owned by the city and the property adjacent to the TOS Theatre, along with an apartment on Church St. attached to the back of it.
Council met in executive session last week to discuss the proposal with Miles. The large tract of land was originally purchased from the Miles family a number of years back.
The land and the adjacent property at 38 Bacon Street would be swapped as an even exchange, and the rear apartment at 102 Church Street would be conveyed as a gift to the city by Miles said City Attorney Carol Miller.
"I’ve checked the values of each property and they appear to be equal,” she said.
An average value between two appraisals of the 53 acre tract amounted to $95,437 while the Bacon Street property was valued at $100,000, and the Church Street apartment valued at $62,000.
The theater in Pembroke was originally built by S.G. Tos in 1938 and served as a movie theatre until the late 1960’s where it played movies mostly on Friday and Saturday nights with some Saturday matinees, according to Angela Reed, theatre project board member.
The city of Pembroke purchased the theatre in 2001 in a first effort to begin the restoration, but the original project committee was derailed. Reed said she did not know whether it was by lack of participation or busy schedules.
“When the new board members came aboard in January, Mayor Judy Cook asked me and Tiffany Walraven to try to get the project rolling again, and now we are moving full steam ahead,” Reed said.
Reed said the Pig Pickin’ held Oct. 11 was a fund raising effort to buy plans that will cost approximately $28,000, and are needed before construction of the project can get under way.
“At this point, there have been preliminary plans drawn up, but nothing set in stone or purchased by the city. Once we have the drawn plans we will be able to apply for grants to help fund the restoration,” Reed said.
Saturday’s festival raised approximately $6,000 after expenses toward the cost of those plans, Mindy Boyette, theatre and arts board Vice President said at Tuesday night’s city council meeting.
Council met in executive session last week to discuss the proposal with Miles. The large tract of land was originally purchased from the Miles family a number of years back.
The land and the adjacent property at 38 Bacon Street would be swapped as an even exchange, and the rear apartment at 102 Church Street would be conveyed as a gift to the city by Miles said City Attorney Carol Miller.
"I’ve checked the values of each property and they appear to be equal,” she said.
An average value between two appraisals of the 53 acre tract amounted to $95,437 while the Bacon Street property was valued at $100,000, and the Church Street apartment valued at $62,000.
The theater in Pembroke was originally built by S.G. Tos in 1938 and served as a movie theatre until the late 1960’s where it played movies mostly on Friday and Saturday nights with some Saturday matinees, according to Angela Reed, theatre project board member.
The city of Pembroke purchased the theatre in 2001 in a first effort to begin the restoration, but the original project committee was derailed. Reed said she did not know whether it was by lack of participation or busy schedules.
“When the new board members came aboard in January, Mayor Judy Cook asked me and Tiffany Walraven to try to get the project rolling again, and now we are moving full steam ahead,” Reed said.
Reed said the Pig Pickin’ held Oct. 11 was a fund raising effort to buy plans that will cost approximately $28,000, and are needed before construction of the project can get under way.
“At this point, there have been preliminary plans drawn up, but nothing set in stone or purchased by the city. Once we have the drawn plans we will be able to apply for grants to help fund the restoration,” Reed said.
Saturday’s festival raised approximately $6,000 after expenses toward the cost of those plans, Mindy Boyette, theatre and arts board Vice President said at Tuesday night’s city council meeting.