Community Corner

Peekskill Council Votes Unanimously to Approve Paramount Deal

The Peekskill Common Council voted unanimously to approve a 17 year lease with Red House Entertainment to run the Paramount Center for the Arts earlier this evening. An official press conference announcing the agreement will be held on May 15.

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Everything went as planned Monday evening and the Peekskill Common Council approved its agreement with Red House Entertainment to operate the Paramount Center for the Arts during a special meeting.

Find out what's happening in Peekskill-Cortlandtfor free with the latest updates from Patch.

 

Red House Entertainment, which is made up Kurt Heitmann, Abigail Adams, Jonathan Close and Ray Wilson. The group bidded against the  Tarrytown Music Hall and the Paramount Phoenix Group to run the Paramount earlier this year.

Find out what's happening in Peekskill-Cortlandtfor free with the latest updates from Patch.

The Common Council chose Red House after a meeting in February, in which all three bidders presented their plans for the Paramount.

Here are a few details that have been presented about the lease so far:

  • 17 year contract with a 10 year option

  • The City will receive 5% on the adjusted gross income of ticket sales of every show

  • The City will cover utilities for the first six months

  • Red House Entertainment projects gross ticket sales of $900,000 in the first year (October, 2013  to October, 2014 and projects $2.2 million annually in year two)

    • Officials said they provide a copy of the lease agreement on the city’s government Web site in the next few days. A press conference announcing the deal has been scheduled for May 15.

    Check back tomorrow for more coverage on Monday’s vote.

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