Kerrville City Council approved two funding agreements for the renovation of the Arcadia Theater on Tuesday night, moving the ball forward on a $2.3 million effort led by the nonprofit Kerrville’s 4th on the River (KFOR). The group applied for and received a $600,000 grant from the EIC (Economic Improvement Corporation 4B salex tax monies) along with $400,000 of HOT funds (Hotel Occupancy Tax). The group will raise approximately $1.3 million in private contributions to fully fund the project.
The $600k in 4b funds were approved by EIC last week, but council had to give its blessing for the grant to become “official.”
The KFOR nonprofit group plans to open the theater by July 3, 2020.
A short presentation was made to council and some of those slides are presented below.