Author Topic: Loew's Jersey Theatre  (Read 40135 times)

Offline Soshin

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Re: Loew's Jersey Theatre
« Reply #144 on: 04-25-2017, 03:03pm »
AEG purchased Webster Hall and Bowery Presents (and associated venues) and just signed the lease on Forest Hills Stadium for the next decade or so.  The chances of getting them involved wit the Loews have probably dissipated with all the time this shit is taking

http://www.brooklynvegan.com/tags/aeg/
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Offline shahaggy

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JERSEY CITY - The city and the Friends of the Loew's could be heading back to court.

A panel of Superior Court judges ruled Monday that a trial court failed to address the city's allegations that the nonprofit group - which manages the Landmark Loew's Jersey theater - breached its leasing contract.

Superior Court Judge Hector Velazquez dismissed the city's claims that the FOL's lease, which is good until 2020, was not valid in during a May 2015 trial. Mayor Steve Fulop had sought to revamp the 88-year-old theater by hiring a concert promoter to manage the former movie theater.

But during that trial, the "court erred by failing to address the city's counterclaim for breach of contract" and "erroneously suggested that the claim had not been properly pled," according to an opinion signed by Superior Court Judges Joseph Yannotti, Robert Gilson and Paulette Sapp-Peterson.

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Offline LoewsJ

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Re: Loew's Jersey Theatre
« Reply #142 on: 07-28-2016, 03:09pm »
About today's story:
 
Friends of the Loew's is of course very grateful to the Court for reinstating grant funds given to the Loew's, and as always we're glad that the JJ is informing our community.  But we do want to say that we don't look at this as "chalking up another win" because we don't see the Loew's as a game.  And we certainly don't want to fight.  But what we would like is to have the kind of cooperation from our City government that many other towns give non-profit groups like FOL as they work to make historic theatres not unlike the Loew's serve their communities as arts centers. At a minimum, we want the support Jersey City promised FOL years ago -- but never provided.

For example, more than ten years ago the City committed to finding funding for these code related repairs, but never did.
 
Instead, FOL cooperated with the City in asking the County to allow the grant, which was originally meant for another project at the Loew's, to instead be used to make some of the important code repairs that the City was not funding.
 
Since at least 2012, the City was supposed to design, bid and contract for the work of this grant. But in 2014, the Fulop Administration ordered the City's Division of Architecture to stop all work on Loew's projects.
 
Then last year, after FOL beat-back the City's attempt to break our Lease, the Fulop Administration told the County that it wanted the grant money taken away from the Loew's.
 
How does this make any sense?
 
Whether you like FOL or not, and no matter whether FOL is at the Loew's or not, these are basic repairs that need to be made -- and the City is responsible for them.

What the City tried to do with the Hudson County grant was take away grant money that was earmarked to help bring the City's own building up to the City's own building codes.
 
To understand how absurd the City's action regarding the Grant was, consider what would happen if the City ordered any other property owner to make code repairs, but instead the property owner refused and said he wanted to spend his money on other things.

FOL also wants to note that we defended our Lease not just for the sake of fighting, but because the Lease ensures that Jersey City's iconic theatre will be run by a local non-profit with a mission to ensure that affordable and local arts are a real part of programming at the Loew's. 

Interestingly, Mayor Fulop says that he wanted such programming too -- but unfortunately his plan was to give total control of the Loew's (plus $40 million in renovations paid for with publicly-sourced funds)  to a huge for-profit promoter with no real means built into the plan to support local and affordable arts.  Under that plan there would have been no viable non-profit say in scheduling and, even worse, no non-profit sharing -- not even minimal -- in the revenue from the for-profit programming.  FOL was even told there would not be any room in the Loew's for an office for the non-profit programmer.
 
Under FOL's Lease, there certainly will be major commercial concerts at the Loew's. In fact, to the extent the Theatre can support them in its present condition, we have those shows now.  But the point is that under our Lease, such programming happens within the broader non-profit mission, and helps support that mission.

Most people understand that good things like local and affordable arts at the Loew's can't happen just be based on good intentions. And we still believe that Mayro Fulop will understand this too when he works more closely with FOL.

Finally, about FOL's budget:  For one thing, at this time it is relatively small for such a big theatre.  That's because in its present condion the Loew's is limited in the scale and frequnecy of programmng it can support -- and so FOL's revenue and budget reflect that limitation. 
 
Also, while FOL did not make money last year, it's important to know a few things about that:  For one, until Jersey City keeps its commitment to find funding to bring its own building up to its own building codes, FOL is required to hire Jersey City Fire Marshals to be in the Loew's whenever we present programs. That's not a small expense.  Also, last year we had to spend a fair amount of money in legal fees to defend our Lease against the City's attempt to break it.  And finally, it should be noted  that non-profit corporations are not solely or even primarily judged by the profit vs. loss balance sheet that rules the profit world.  By their very nature, non-profits do things that are important but which won't necessarily make money.  That's why they are recognized by the IRS as being "non-profit".  To pay for those good things, non-profits seek donations and also take money out of the bank -- and that's exactly what FOL does.

And finally, for full disclosure: I am one of two paid employees FOL has.  I make $45,000 a year, no benefits.

-- Thanks for taking the time to read this.

Online MA

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Jersey City Loew's groups wins court victory over stripped grant funding
By Terrence T. McDonald | The Jersey Journal
on July 27, 2016 at 12:20 PM, updated July 27, 2016 at 7:45 PM

JERSEY CITY Chalk up another win for the Friends of the Loew's.

The nonprofit that manages the Landmark Loew's Jersey Theatre in Journal Square won a victory in court last week after suing Hudson County freeholders over roughly $300,000 in grant funding that was stripped from FOL by the freeholder board last year.

Hudson County Superior Court Judge Jeffrey R. Jablonski on Friday reversed the freeholders' August 2015 decision to repurpose the grant money, first awarded back in 2005, from the Loew's to Berry Lane Park, the massive city park that opened along Garfield Avenue last month. The judge ordered the grant money reinstated to FOL and Jersey City.

"We were vindicated," said Roberta Tarkan, FOL's attorney.

A spokesman for the freeholders did not return a request for comment.

Jablonski's decision represents the second time FOL has won a court victory over Mayor Steve Fulop's administration, which pushed the freeholders last August to strip the grant funding from FOL. In May 2015, FOL won a separate court case that gives the nonprofit the right to manage the city-owned theater until February 2020, effectively killing Fulop's plan of having concert promoter AEG Live take over management duties.

Tarkan said she believes Fulop's subsequent push to strip the $300,000 grant from FOL was retaliation for losing that case. Read more

Online MA

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Freeholders side with Fulop in Loew's flap
« Reply #140 on: 08-14-2015, 05:48pm »
Freeholders side with Fulop in Loew's flap
By Terrence T. McDonald | The Jersey Journal
on August 13, 2015 at 5:30 PM

JERSEY CITY Hudson County freeholders today unanimously stripped a roughly $300,000 grant from the nonprofit group that runs the Landmark Loew's Jersey Theater, a victory for Mayor Steve Fulop's administration.

Fulop, who has been sparring with the group, the Friends of the Loew's, over management of the former movie palace, had asked the freeholders to repurpose the grant from the Loew's to Berry Lane Park, under construction on Garfield Avenue.

The amount had initially been $500,000 but was changed before the 8 to 0 vote, with Jersey City Freeholder Gerard Balmir absent and Freeholder Bill O'Dea, also of Jersey City, abstaining. Freeholder Anthony Romano, of Hoboken, urged FOL to apply for more grants.

FOL's director, Colin Egan, said he was disappointed by the outcome and remained baffled that the city wanted to take the money away. The grant, provided by Open Space Trust Fund dollars, was intended to bring elements of the city-owned Loew's up to safety and fire code standards.

"Whether or not FOL is here whether or not we're doing community shows, whether or not we're doing big shows ... this is an issue the city is supposed to take care of," Egan told The Jersey Journal. "It's totally mind boggling."

Fulop wanted the county to repurpose the grant from FOL to Berry Lane Park because the nonprofit group has fiscally mismanaged the theater, said city spokesman Ryan Jacobs. Read more

Offline Kindelan

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Re: Loew's Jersey Theatre
« Reply #139 on: 08-13-2015, 10:47pm »
Fulop could have gone about this in a different way and would probably have achieved the outcomes he claims to favor more efficiently and without rancor. Instead, he had to be disrespectful and bullyish to people, without whom, there wouldn't be a theater to fight over.

I think the Tao said it best. Be like water, it is the softest thing but it carves canyons- you know what I'm saying?

Number 8

The supreme goodness is like water,
nourishing all of creation
without trying to compete with it.
It gathers in the low places unpopular with men.

Therefore it is like the Tao.

In dwelling, live close to the ground.
In dealing with others, be gentle and kind.
In speaking, stand by your word.
In governing, lead with integrity.
In making a move, choose the right moment.

One who lives in accordance with nature
does not go against the way of things.
He moves in harmony with the present moment,
always knowing the truth of what must be done.

Online Darna

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Fulop, Loew's group tussle over grant funding
« Reply #138 on: 08-13-2015, 02:52pm »
Fulop, Loew's group tussle over grant funding
By Terrence T. McDonald | The Jersey Journal
on August 13, 2015 at 9:11 AM, updated August 13, 2015 at 9:37 AM

After a brief summer hiatus, the battle between Jersey City and the nonprofit group that runs the Landmark Loew's Jersey Theatre is resuming, with city officials asking Hudson County to take back a roughly $500,000 grant from the former movie palace.

The grant, which city officials want to give instead to the construction of Berry Lane Park on Garfield Avenue, was supposed to pay to bring some elements of the city-owned Loew's up to fire and safety code standards. The Hudson County freeholders are expected to vote to repurpose the funds to Berry Lane Park at their 1 p.m. meeting today.

In a letter to the county obtained by The Jersey Journal, Mayor Steve Fulop slams Friends of the Loew's, the nonprofit group that runs the Journal Square theater, saying the group provides "a minimal amount of community benefit and to a small number of residents."

Fulop's move comes two months after the city lost a pivotal court case to FOL. That May 29 decision gave the nonprofit group the right to remain the city's tenant until 2020, putting into jeopardy the mayor's plan to have concert promoter AEG Live take over management of the Loew's in FOL's place.

This latest salvo has city officials accusing FOL of financial mismanagement and FOL charging the city with attempting to strip grant funding as retaliation for losing in court.

For more, read here.

Offline shahaggy

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Jersey City loses bid to boot nonprofit group from Loew's
« Reply #137 on: 05-29-2015, 02:00pm »
A Hudson County judge this morning delivered a blow to Jersey City's efforts to revamp the Landmark Loew's Jersey Theatre by ruling that the nonprofit group that runs the historic theater has a valid lease that the city cannot break.

Judge Hector Velazquez dismissed a city attorney's arguments that the lease, which allows Friends of the Loew's to manage the 86-year-old theater until February 2020, is invalid, putting a temporary stop to Mayor Steve Fulop's plan to have concert promoter AEG Live take over management of the former movie palace.

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[10:23 PM] skwirrlking: you submitting darna for beards eating cupcakes - mca?

[03:24 PM] Darna: [03:22 PM] jeht'aimeu: skw, you are climbing up my pole as well... 

[02:28 PM] propscene: I DPON"T MEAN I LOVE YOU DEEP INSIDE AS MUCH AS I LOVE HIM DEEP INSIDE OH GOD

[12:58 PM] nikki: i feel like i should like the opposite of whatever jehu says

Online MA

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How to Save Silent Movies: Inside New Jerseys Cinema Paradiso
« Reply #136 on: 10-02-2014, 01:52pm »
Nice article in The Daily Beast. Once you get past the :blah: about the fight to save the theatre comes a section on how the Morton Wonder Organ works.

The Daily Beast: How to Save Silent Movies: Inside New Jerseys Cinema Paradiso

Online MA

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wat?



Lawsuit filed by Jersey City Loew's group back on track after judge overrules himself
By Terrence T. McDonald | The Jersey Journal
on July 26, 2014 at 3:00 AM

The nonprofit group that manages Jersey City's Landmark Loew's Jersey Theatre is celebrating a surprising court victory yesterday, one that could put the brakes on Mayor Steve Fulop's plan to have concert promoter AEG Live take over management of the former movie palace.

Working with a new attorney, Friends of the Loew's (FOL) convinced Hudson County Superior Court Judge Hector Velazquez that it may indeed have a valid lease with Jersey City that would prevent AEG from taking over.

Only last month, Velazquez tossed the suit, ruling that the lease was not valid. After yesterday's decision, the lawsuit is back on.

"The judge said, 'I was wrong,'" said Roberta Tarkan, FOL's new attorney. "We're back to square one."

According to Tarkan, Velazquez changed his mind after seeing a 2009 ordinance adopted by the City Council that "everyone just overlooked."


Fulop has said that the restoration of the 85-year-old Loew's is a vital component to revitalizing Journal Square. Under a proposal approved last month, AEG, one of the world's biggest concert promoters, would pay $350,000 annually to rent the theater for 30 years and contribute $3.5 million toward its renovation.

FOL, which is opposed to Fulop's plan for the Loew's, saying it will turn the theater into a commercial concert venue instead of an arts center, argues that its five-year lease with the city, which was finalized in 2004, gave it two 5-year extension options.

Jersey City has argued that since the city never ratified FOL's request for a lease extension, the lease is null and void.

Colin Egan, who runs FOL, is thrilled about yesterday's development.

"It's just another step and there's a lot more steps to go, but we're certainly pleased that the judge will hear more information," he told The Jersey Journal.

In a statement, city spokeswoman Jennifer Morrill sounded confident that yesterday's decision will not ultimately harm the city's plans to bring in AEG.

"This is nothing more than a procedural step and will unfortunately add time until we can open a renovated theater for Jersey City residents," Morrill said. "In the long term, it doesn't change one thing about the direction we are going other than this being an attempt to use the courts to try and run out the clock."

Fulop has said that FOL was asked to participate in the city's plan to transform the Loew's. AEG has pledged to commit to allowing FOL to host at least 20 events per year at the theater.partner with New Jersey City University and Mana Contemporary to offer 40 community events annually.

Offline Frank M

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Re: Loew's Jersey Theatre
« Reply #134 on: 07-11-2014, 08:42am »
A slogan to suit the depth of that message could be:

The ArtsYou Know, for KicksTM

Online MA

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Urban Living and the Necessity of the Arts
« Reply #133 on: 07-10-2014, 02:06pm »
:fulop:'s latest HuffPo op-ed.



Urban Living and the Necessity of the Arts

Posted: 07/09/2014 7:00 pm EDT Updated: 07/09/2014 7:00 pm EDT

American cities are thriving in ways unimaginable a generation ago. Once the places people wanted to flee, cities are now where more and more families and individuals want to live, work and play. Interesting architecture, historic brownstones, shorter commutes between work and home, all serve to increase the allure of city living between Live-Work-Play.

Often overlooked though in city development is the need to foster vibrant arts opportunities for our residents. In coping with many of the issues we face, urban mayors spend much time focusing on the live and work part of growing their cities, but the play portion is similarly important, especially when it comes to the arts.

That's why in Jersey City we are committing public dollars with ample support from area developers to complete renovation of a grand 3000-seat theater and provide residents with a world class arts venue. Built as one of five Loew's Wonder Theatres in the 1920s, this venue has regional potential beyond the city. By bringing in two companies - one, a leading design firm to rebuild the theater to its former grandeur and the second, one of the world's largest concert promoters to book popular entertainers, we are helping complete the live, work, play equation in Jersey City. We have also emphasized the need for local arts programming for the young and older alike and a local university will be managing this end of the theater. Once re-opened, the Loew's will serve its neighborhood, the city at large, and the region as well.

New York City's great mayor, Fiorello LaGuardia, believed that art was a concern of government and should provide as many opportunities as possible for all city residents, especially those less well-off, to experience the joy of taking in concerts, shows and exhibits. Of course, he was right, though in tough budgetary times this emphasis has too often been lost.

Not only will the newly renovated Loew's spur further development in the neighborhood, but just as important, it also will serve as an arts hub focused on broad community programming for the entire city, one of the most diverse in the nation.

As American cities enjoy a renaissance, spending on arts must not be overlooked. No doubt, it can be hard to justify when public safety and education demand increasing public investment. But without attention being paid to the arts, cities will suffer in the long run.

Online MA

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Re: Loew's Jersey Theatre
« Reply #132 on: 07-02-2014, 02:20pm »
Bravo. Well said.

he Friends of Loew's did a great job saving the theater. They are an organization designed by their nature to be a  vital interim step to viability. But investing the money in the infrastructure and actually running an actual performing arts center will take millions of dollars. Enough with their obstructionist tactics and move aside... you preserved the theater and should have, and will have a role in its future. However depressing they find a for profit managing firm to run the Loew's, it's time they allow the Loews to become the premier performing arts center they worked to see possible. They'd be far better tactically advised to maintain a role in the new Loew's and help keep the feet to the fire to the new management to fulfill its obligations and expectations. You did your job, and I'm very grateful for that. But you have to learn when to let go, or at least to gracefully accept a new, though very important role in the Loew's future. Trying to keep the lawsuits going only hurts the goal of a world class Loew's.... hopefully if they can't stop this foolishness the petition gets thrown out of court quickly.

Offline citybooster

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Re: Loew's Jersey Theatre
« Reply #131 on: 07-02-2014, 02:10pm »
he Friends of Loew's did a great job saving the theater. They are an organization designed by their nature to be a  vital interim step to viability. But investing the money in the infrastructure and actually running an actual performing arts center will take millions of dollars. Enough with their obstructionist tactics and move aside... you preserved the theater and should have, and will have a role in its future. However depressing they find a for profit managing firm to run the Loew's, it's time they allow the Loews to become the premier performing arts center they worked to see possible. They'd be far better tactically advised to maintain a role in the new Loew's and help keep the feet to the fire to the new management to fulfill its obligations and expectations. You did your job, and I'm very grateful for that. But you have to learn when to let go, or at least to gracefully accept a new, though very important role in the Loew's future. Trying to keep the lawsuits going only hurts the goal of a world class Loew's.... hopefully if they can't stop this foolishness the petition gets thrown out of court quickly.

Online MA

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Petition launched in support of community group managing Jersey City's Loew's theater
By Summer Dawn Hortillosa / The Jersey Journal
on July 01, 2014 at 9:44 AM, updated July 01, 2014 at 10:24 AM

A petition to support a nonprofit community group that has been managing the Landmark Loew's Jersey Theatre in Jersey City was launched over the weekend.

The Friends of the Loew's (FOL), a group which saved, preserved and managed the historic theater, created a Change.org petition Friday in protest of a recent city decision to have major concert promoter AEG Live take over management of the venue.

The campaign appeals directly to Mayor Steven Fulop, who is celebrating his first year in office today, and is called "Upload the Friends of Loew's Lease to maintain Loew's Jersey Theatre as a true arts center serving our community and region," despite a Hudson County judge ruling June 11 that there is no valid lease between the city, which owns the Loew's, and FOL. (Colin Egan, president of FOL, says they plan to appeal the decision.)

In their petition, FOL notes their long history of working to preserve and manage the theater (a petition was actually instrumental in saving the Loew's from the wrecking ball over two decades ago), as well as the city's long history of dropping the ball, letting grants fall through their fingers and sitting on Urban Enterprise Zone money that was eventually lost.

While the Loew's hosts events (everything from the Golden Door International Film Festival and concerts by acts like Neutral Milk Hotel to local arts events and weddings), it can use only half of its 3,000 seats as the city has stalled in getting it up to fire and building code.

FOL asks the community to support them in their bid to continue managing the Loew's as well as get full city support in making the theater fully operational.

AEG Live knows the Loew's needs work, too. The company said it would pay $350,000 annually to rent the city-owned theater for 30 years and contribute $3.5 million toward renovation of the 85-year-old former movie palace. The deal between the city and AEG is set to be finalized at a special meeting of the Jersey City Redevelopment Agency (JCRA) today.

FOL says a large, commercial company like AEG Live will likely leave community groups and artists in the city's burgeoning arts scene out.

"If the City is finally willing to invest some money in the Loew's, it would be far more prudent and progressive for it to work with the local community-based organization that has so far managed to keep the Theatre open and operating without the City's promised support," said FOL in a statement last week.

In their petition they add, "Arts centers are part business, for sure. But they are also missions driven by the even more important imperative to serve their communities. So the Loew's needs to keep its locally-rooted stewardship intact."

At press time, the petition has almost 600 supporters and needs about 400 more to reach its next target of 1,000. Whether or not it will influence the city's decision, however, remains to be seen.

Offline Bobblehead

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Re: Loew's Jersey Theatre
« Reply #129 on: 06-27-2014, 12:27pm »
Is there a cap on taxpayer bond contribution to the $30-40 million? Because if AEG is only contributing $14 million over the lifetime of their thirty-year deal, the city is going to have to come up with an awful lot of private contributions to prevent this from being a massive money-loser for JC taxpayers.

I am by nature very skeptical of public development projects that seem mostly to benefit private entities. For example, I for one don't think Newark made a good call in pursuing the Prudential Centerthe hundreds of millions Newark got from the PA was not found money, it was public money that could have been used to better purpose. And Xanadu is an obvious disaster. And the Golden Door community center.

Depends on how our legal dept. interprets the oversite controls. However, I think the City has many outs though just based on reading stipulations.

Which is going to reassure me . . . how? If debt service costs wind up exceeding fixed rent, does that mean JCEDC can just void the lease terms with AEG and seek a higher-paying tenant?

Sanctimonious bleater.

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Online MA

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FOL: A First Response to Mayor Fulops AEG Announcement
« Reply #128 on: 06-27-2014, 12:09pm »
FOL's statement:



A First Response to Mayor Fulops AEG Announcement

Mayor Steve Fulop of Jersey City announced today that he's picked AEG -- a huge commercial promoter -- to run the Loew's instead of Friends of the Loew's.

As reported in the Wall Street Journal, Mayor Fulop's plan envisions handing the Loew's over to AEG in a 30 year lease.

Also as part of the deal, according to the Journal, taxpayers will foot most of the bill for $30 to $40 million of renovations to meet AEG's needs.

In other words, the RFP process that the City Administration announced months ago as an innovative new approach for the Loew's comes down to this: Jersey City will pour tens of millions of dollars into the Loew's in order to let a major corporation try to make money for itself here.

This hardly seems like the approach a progressive administration would embrace.

It is, to say the least, ironic: For ten years, the City government has failed to keep its commitment to FOL to provide the few million dollars needed for the renovations to bring the Loew's into compliance with the City's own building and fire safety codes. Had the City provided this money, it was to be paid back through a special surcharge on tickets. This failure by the City to keep such a modest commitment has been the major roadblock in FOL's efforts to greatly expand programming; it has certainly stopped us from working with major promoters.

Under the plan, the City's modest show of support would have put FOL in the position to seek grants and major donations to help pay for additional upgrades to the Loew's. Instead, the City's failure to keep its commitment undercut our ability to seek such funds. Who would even consider giving money to a building owned by Jersey City but for which the City was refusing to pay for such basic repairs?

The Fulop Administration has ignored what the City has not done and tried to imply that FOL has somehow failed to do what we were supposed to. But now, the City is admitting it will take tens of millions of taxpayer dollars before anyone else can do anything here at the Loew's.

If the City is finally willing to invest some money in the Loew's, it would be far more prudent and progressive for it to work with the local community based organization that has so far managed to keep the Theatre open and operating without the City's promised support .

This, of course, is the latest development in an ongoing struggle by FOL to prevent Jersey City government from turning its back on the ideal for which the Loew's was saved: our iconic landmark theatre restored as a true arts center that's rooted in our community.

Friends of the Loew's has always said that big pop concerts need to be a part of programming at the Loew's -- but in a broader mix of local arts, film, community service events and more. No matter how much our local officials want to convince themselves otherwise, you can't sustain local roots and broad programming by putting a commercial promoter in charge.

FOL remains confident of our legal position in a longstanding agreement with Jersey City to manage the Loew's, and so though no one likes to go to Court, we are pursuing a defense that will include an appeal of a recent decision.

But while we leave legal issues to the lawyers, we also want to make sure people know what's going on and what the issues are. So we've encouraged a lively discourse about the fate of the Loew's on our Facebook page, in Twitter, and through a special website we set up to keep people informed: FriendsofLoews.com

As the City tries to push ahead with its effort to get rid of FOL, it's more important than ever for people to understand what's at stake.

We'll be posting more in the coming days, and so we urge you not only to subscribe to our social media updates, but also to share our postings and messages with your friends and followers. It is important to spread the word.

Offline DarkMoment

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Re: Loew's Jersey Theatre
« Reply #127 on: 06-27-2014, 12:02pm »
Depends on how our legal dept. interprets the oversite controls. However, I think the City has many outs though just based on reading stipulations.

Which is going to reassure me . . . how? If debt service costs wind up exceeding fixed rent, does that mean JCEDC can just void the lease terms with AEG and seek a higher-paying tenant?



Offline Bobblehead

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Re: Loew's Jersey Theatre
« Reply #126 on: 06-27-2014, 11:58am »
Which is going to reassure me . . . how? If debt service costs wind up exceeding fixed rent, does that mean JCEDC can just void the lease terms with AEG and seek a higher-paying tenant?

As the RFP states the JCEDC will maintain control on behalf of the city and AEG must be in full compliance at all times.

[...]

Seems to me that a lot of the cost/risk is falling on the public's shoulders, and in the end we are giving away control to a private company for three decades.
Sanctimonious bleater.

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Re: Loew's Jersey Theatre
« Reply #125 on: 06-27-2014, 11:48am »
RFP might state that, but what will the actual contract say?
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Offline DarkMoment

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Re: Loew's Jersey Theatre
« Reply #124 on: 06-27-2014, 11:47am »
As the RFP states the JCEDC will maintain control on behalf of the city and AEG must be in full compliance at all times.

[...]

Seems to me that a lot of the cost/risk is falling on the public's shoulders, and in the end we are giving away control to a private company for three decades.


Offline Bobblehead

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Re: Loew's Jersey Theatre
« Reply #123 on: 06-27-2014, 10:37am »
So, the city is going to gather together $30-40 million (according to WSJ) to renovate the theater, a combination of private and public money. That is quite an impressive feat. I hope the bond portion doesn't become a nightmare, like the bond for the Golden Door Charter School site is now.

So AEG Live will be contributing $3.5 million to renovation and $350,000 a year, over thirty years, for a total of $10.5 million to the city. That may be the largest bid by the operating companies, but my question is, is this a good deal for the city?

Fulop complains about the Port Authority paying PILOTs that were set in the 1960s; how do you think the mayor of Jersey City in 2039 (never mind the rest of us) will feel about AEG Live paying rent that was locked in twenty-five years ago?

Seems to me that a lot of the cost/risk is falling on the public's shoulders, and in the end we are giving away control to a private company for three decades.
Sanctimonious bleater.

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Concert promoter AEG set to take over Jersey City's Loew's theater
By Terrence T. McDonald/The Jersey Journal
on June 27, 2014 at 3:01 AM

AEG Live, one of the globe's largest concert promoters, is set to win a contract to take over management of the Landmark Loew's Jersey Theatre in Jersey City, and the firm pledges to bring "top talent" to the Journal Square theater.

A city official said AEG offered "far and away" the largest bid to run the venue, saying it would pay $350,000 annually to rent the city-owned theater for 30 years and contribute $3.5 million toward renovation of the 85-year-old former movie palace.

The deal is set to be finalized at a special meeting of the Jersey City Redevelopment Agency on Tuesday, the anniversary of Mayor Steve Fulop's first year in office.

Mark Schulman, an AEG executive vice president, said the firm hopes to make the Loew's "a hub for the entire area." Programming should begin in late 2015, after renovations are complete, according to Schulman.

The city expects it will cost more than $30 million to renovate the Loew's, a sum the city plans to pay for with a mixture of private donations, grants, bonding and tax credits. A city official told The Jersey Journal AEG's proposed lease payments would cover the cost of any amount taxpayers will have to borrow.

Fulop called AEG's proposal "a significant financial commitment.

"The city will stop losing money on the Loew's and the city will 100 percent retain ownership of the Loew's," Fulop told The Jersey Journal. "This is just an important step in bringing back Journal Square as the heart of the city"

AEG, which will partner with New Jersey City University and Mana Contemporary to offer 40 community events annually, was competing with Live Nation, Ace Theatrical Group and local firm Catch a Rising Star.

Ace is set to win the bid to renovate the Loew's.

By picking an outside management firm, the city is booting out Friends of the Loew's (FOL), a local nonprofit that has managed the theater since at least 2004. The group helped save the Loew's from a wrecking ball in 1995. Colin Egan, who runs FOL, said the city is making a poor decision bringing in AEG.

"At best, it'll be a commercial concert venue, not an arts center," Egan said.

FOL sued Jersey City after Fulop announced he wanted a new management firm to take over, with FOL claiming it has a lease making it the theater's managers. Earlier this month, a judge sided with Jersey City, which said there is no current lease.

Egan said FOL will appeal.

Mana Contemporary is part of the Moishe Mana empire. Companies controlled by Mana donated at least $2,125 in 2010 and 2011 to Fulop's mayoral bid.

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Jersey City Taps AEG Live to Manage Loew's, Announces Theater Overhaul
Landmark Venue Hopes to Compete with Manhattan Music Halls, Rejuvenate Journal Square
By Josh Dawsey
Updated June 26, 2014 11:02 p.m. ET

One of the country's biggest entertainment companies is set to manage the Loew's Jersey Theatre in Jersey City, an important step in the effort to turn the aging venue into a gem of the state's second-biggest city.

On Thursday, city officials said that AEG Live, a company that books talent and manages venues nationwide, will manage the Loew's Jersey Theatre and that the city will spend about $30 million to $40 million to overhaul the theater.

The renovation plan calls for closing the theater sometime this year and reopening it by late 2015 or early 2016.

The theater, once among the state's most opulent, opened in 1929 when the city had several movie houses. The palatial space was long a venue for watching films; in recent years, the theater has become a home for film and photography shoots.

Updating the venue would give Jersey City a chance to compete for big performers with halls such the Bowery Ballroom in Manhattan and the Wellmont Theater in Montclair.

"This will be our first signature trophy entity for the cultural arts," said Mayor Steven Fulop. "It's something Jersey City has never had, a cultural arts hub that anchors the community."

The Jersey City Redevelopment Agency is expected to approve the arrangement on Tuesday night.

Jersey City taxpayers will fund much of the renovations, but private donations, tax credits and some improvements by AEG will be part of the mix, officials said.

Mr. Fulop said Jersey City doesn't see the project as a moneymaker but a chance to attract more residents and visitors.

AEG will pay $350,000 a year for the 30-year lease, which requires AEG to book at least 20 national acts a year, stage dance and comedy shows and at least 30 community events. The contract doesn't define which performers count as "national acts."

Performers from across the country would now come to Jersey City, said Mark Shulman, a senior vice president for AEG.

"Right now, a lot of those kinds of shows may be going further south into New Jersey or into Manhattan," he said. "It's a tremendous opportunity." Mr. Shulman said AEG is betting on the theater spurring development around the Journal Square PATH stop.

"We believe that's where it's heading," he said.

Loew's "is a stunning, really beautiful piece of architecture with great bones," said David Anderson, the chief executive of Ace Theatrical, the company under contract to renovate the theater. But the stage is in terrible shape, and the building needs new bathrooms, new seats, new carpet and a renovated roof, he said.

The city also received bids from LiveNation and the New Jersey Performing Arts Center to manage the facility. A spokesman for LiveNation declined to comment. "We were certainly looking forward to the opportunity to extend our work and arts education further into Jersey City," said John Schreiber, the president and CEO of NJPAC.

Mr. Fulop's move disappointed the Friends of the Loew's, the nonprofit group that made hundreds of thousands of dollars in repairs and once had a lease for $1 per year to run the theater. Mr. Fulop has often been at odds with the group.

"It will inevitably become a commercial concert hall," said Colin Egan, the group's director. "The purpose of the restoration is for the theater to be a true arts center, not for commercial pop programming with other programming as the afterthought."

Mr. Egan said he wants more discussions with the city before an overhaul happens. The city says the contract will allow for up to 20 events sponsored privately by the Friends of the Loew's.

Offline DarkMoment

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Re: Loew's Jersey Theatre
« Reply #120 on: 06-14-2014, 05:37pm »
Full disclosure. I was appointed to the FOL
as a Board Trustee last fall by the Mayor.
Myself and Rekha Nadwani were both asked to recuse
ourselves from meeting where board voted
to sue city.

In the meantime, I called AEC and ask they
participate in the RFP. They flew eight or 10
of their people in and have spent more time
in going over every inch of Loew's than any
other participant. AEC has done more historical
preservation of theaters in American then any
other company in the world. Go to their site to
see what venues they have done or are in
process of restoring including the twin to our
Loew's in Brookyn underway now.

AEC has also partnered with both NJCU and
NJPAC and will also work with FOL and other
groups for community events.

AEC also runs profitably every venue they
book programming for in the country.

Mayor Fulop has put in place the only way
that the Loew's will be fully preserved,
restored and a plethora of both community
and national programming will take place
in perpetuity

I really hope ACE Theatrical Group gets this. Loews Kings Theatre is nearly identical to Loews Jersey and they are doing the restoration on that theater.

http://www.nycedc.com/project/loews-kings-theatre


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Re: Loew's Jersey Theatre
« Reply #120 on: 06-14-2014, 05:37pm »