To the Friends of the Oneonta Theatre and theater owner Tom Cormier for working together to keep the Oneonta landmark in operation.
About 45 supporters met at the theater last month to discuss the issue.
After Cormier announced in December he would close the theater Jan. 1, he and FOTOT members met and began on the road to find long-term viability for the venue.
Cormier bought the 115-year-old theater for $225,000 in June 2009. Initially, he worked with FOTOT to upgrade the building. However, Cormier, a businessman, said that after he realized how long it would take the group to renovate the theater, he stepped in to make improvements and expedited the theater’s return to operations by mid-2010.
FOTOT Board President Patrice Macaluso praised Cormier’s work to restore and improve the building. FOTOT members were disappointed when Cormier took over restoration efforts, she said, but the group is eager at this juncture to do the research and continue networking to create a not-for-profit organization that can operate the theater.
We’re glad to see a good turnout at the meeting and wish Cormier, FOTOT and volunteers the best in keeping the lights on.
To the city of Oneonta’s recent sale of $5.5 million in bonds.
The bonds are for capital projects in 2011, 2012 and 2013, including improvements in the Dietz Street parking lot, the municipal garage and Spruce Street, city Finance Director Meg Hungerford said.
The city’s bond rating earlier this month by Standard & Poor’s of “A plus’’ with a “stable outlook’’ had “an important part in getting a good interest rate,’’ she said.
The city had an “A plus’’ rating with a “negative outlook’’ when it sold bonds in 2010.
The upgraded rating shows the city is moving in the right direction. Moreover, the sale will give the city a much-appreciated infusion of capital.