Roanoke Rapids Taking Big Loss On Theater

Roanoke Rapids officials are locking in a multi-million-dollar loss for taxpayers to get rid of a city-owned theater along Interstate 95 that backers hoped would attract tourists from miles away.

The Daily Herald of Roanoke Rapids reported Friday that the city council approved a deal to sell the Roanoke Rapids Theatre for about $7 million.

Roanoke Rapids borrowed $22 million in 2005 to build the theater. The city signed the brother of entertainer Dolly Parton to manage and perform at the Randy Parton Theater, but that deal soured.

Local taxpayers are now paying nearly $2 million a year in borrowing and operating costs.

Roanoke Rapids Finance Director MeLinda Hite said the deal leaves the city still owing about $13 million.

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  • by beachbum3 on Dec 2, 2011 at 11:38 AM
    are the taxpayers of the area of roanoke rapids still going to be on the hook to pay back the loans for this boondoogle or will the state of north carolina step up with some form of incentives package to make up the differences. thats right though only the big coporate instrest get incentives packages to defray their cost of doing business isn't that right an not the taxpayers of north carolina for they are the ones that the politicians levy fees an taxes upon in the first place an take the moneys from in order to fund these incentive givaways to the coporate instrest to start with thank you
    • reply
      by Whoa! on Dec 2, 2011 at 01:11 PM in reply to beachbum3
      Why should the citizens of the rest of NC have to pay for Roanoke Rapids mistake? Oh, and that was probably the longest sentence ever posted here.
  • by Anonymouse Location: KVEGAS on Dec 2, 2011 at 08:52 AM
    The development committee... their names again? Local, longtime players in downeast politics....check their status now.
  • by Barlow Location: Winterville on Dec 2, 2011 at 07:07 AM
    This should be listed as the Eighth Wonder of the World! A wonder anybody, let alone group of people, could be this stupid. The thing is out in the middle of nowhere. Make a truck stop out of it and maybe you can get a few bucks back.
    • reply
      by Truck Stop on Dec 2, 2011 at 10:06 AM in reply to Barlow
      That's the best idea I've heard so far. Barlow, you need to be a city planner.
  • by Anonymous on Dec 2, 2011 at 06:03 AM
    "What officials hoped would bring big bucks to the town is instead costing them millions of dollars"....WRONG! It ain't costing the "officials"'s costing the TAXPAYERS a wad.
  • by Citizen on Dec 2, 2011 at 06:00 AM
    More white corruption! Who in their right mind would shell out 21 million for something that like that? The top attraction was who? Dolly Parton's brother?? Not even Dolly hereself??
    • reply
      by White Corruption? on Dec 2, 2011 at 06:21 AM in reply to Citizen
      No one was killed, no drugs were dealt, no guns were stolen or sold, .....some people had an idea to increase traffic & income to the community. It didn't work...and although a FIVE YEAR OLD could have told you it was a bad idea (look at my posts on here from years ago before it was built and you'll see I knew better) they were trying to do something possitive. How is that "White Corruption"? Your view is skewed.
    • reply
      by Anonymous on Dec 2, 2011 at 06:22 AM in reply to Citizen
      White Corruption??? You sound about typical.
  • by ace Location: j ville on Dec 2, 2011 at 05:54 AM
    Another example of government trying to get into private interprize. They used tax dollars for capitol. That is wrong. Look at Washington county. They are paying for a building in Roper, have an empty building at the industrial park and there is talk of the county buying the Canban Warehouse all at the tax payers expense.
  • by Barb Location: Rocky Mount on Dec 2, 2011 at 05:26 AM
    I think the city would have been better off letting Mr. Parton manage this property!!
  • by Anonymous Location: Duplin Co. on Dec 2, 2011 at 05:14 AM
    if they're interested in getting back in the entertainment business, we have one we'll sell them.

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