Funding for Downtown Movie Theater Approved

Written by Rowley on August 3rd, 2012

Movie Magic

HOLY SHIT BIG SUMMER NEWS EVERYONE.

Earlier this week, county officials approved preliminary plans to build an 11-screen movie theater at Church St. and Railroad Place, the vacant lot where the proud, noble Ghetto Chopper (RIP) once stood. This caused everyone who schlepped all the way out to Wilton for the midnight showing of The Avengers in the pouring rain to fist-pump in excitement.

The Times-Union reports that local developer Sonny Bonacio (who was named “Executive of the Month” by Success magazine in February 2007 and—let’s be real—has a name ripped straight out of The Sopranos) was granted $956,653 in tax breaks by the Saratoga County Industrial Development Agency.*

Advocates argue that the $18 million, 24,000-square-foot theater could greatly benefit the Downtown economy, bringing more people to Saratoga and expanding the city’s tax base. However, a quick glance at the commentary on the Saratogian and Times-Union articles reveals that many are opposed to the project on anti-spending grounds.

Construction is expected to begin later this fall, to be completed by spring 2013. Bear in mind, this is only the first step, and though Bonacio has yet to contract a theater operator, the fact that he’s been able to clear all this bureaucratic red tape so early is pretty impressive.

Just so long as he doesn’t try to swindle the city out of millions, like a certain silver-tongued monorail salesman.

*There are a lot of ins and outs with this deal, but tax law is complicated and boring, so if you really want to know the details, check out the Times-Union article.
(Via the Saratogian and the Times-Union)
 

1 Comments so far ↓

  1. Homer says:

    Movie! D’oh.

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