Silver Spring Fillmore Deal Inked
The deal between Live Nation, Lee Development Group, and Montgomery County appears to have been finalized. From the press release itself…
County Gets Silver Spring Property Worth $3.5 Million For Free To Open Fillmore Music Hall
Montgomery County and the Lee Development Group today signed a final agreement permitting the construction of a Fillmore Music Hall on the property which formerly housed the J.C. Penney Company in downtown Silver Spring. After completion of the Music Hall, Lee Development Group will donate the land to the County.
Under the terms of the agreement, Montgomery County receives the $3.5 million property at no cost to create a dynamic new music, entertainment, and community use venue in downtown Silver Spring, a move that will bolster economic development and the music scene for that community and the County as a whole.
The new music hall, to be run under contract by Live Nation, will preserve the historic façade of the old J.C. Penney store site on Colesville Road owned by the Lee Development Group – a site vacant for 18 years — and build a modern, new music and community use venue behind it. The State of Maryland and Montgomery County will contribute $4 million each – for a total $8 million in public investment — toward the cost of building the facility, which will be owned by the County. The Music Hall requires no ongoing public subsidy.
An economic impact analysis done by the County’s Department of Finance shows an annual cost to the State and County on projected bond issues as approximately $355,000 and annual direct and indirect income tothe State and County from sales, income, beverage, fuel, and other taxes, as well as rent, as approximately $1,067,000. This results in a net annual profit to the public of $712,000.
When the value of Live Nation’s improvements to the County-owned building and Live Nation’s ongoing and structural maintenance work are included – as well as the value of community use and Live Nation community contributions – the net benefit to the public increases by another $951,000 to a total net public benefit annually of about $1,663,000.
Under the terms of the agreement, the Lee Development Group would also provide for free management services for the construction of the facility, a $500,000 value.
The land donation is intended to serve as the required “public use space and public amenity” that is required for County development projects. Almost always such an amenity is provided in conjunction with a development project. In this case, however, the Lee Development Group is providing the amenity up-front – long before they have a development project on the property adjoining the former J.C. Penney site.
“The County’s vision is to bring a dynamic, first-class music, entertainment, and community use venue that will offer a wide range of musical choices to Silver Spring at the former J.C. Penney site,” said County Executive Ike Leggett. “That’s why the County approached the Lee Development Group with this innovative approach, asking them to donate this key property at the gateway to Silver Spring.
“We want to bring Silver Spring revitalization across Colesville Road and Georgia Avenue. We want more customers for Silver Spring businesses and restaurants. This location will create a dynamic center of music and entertainment with the American Film Institute and the restored Silver Theater directly across the street.”
“This is one more giant step toward delivering that vision,” said Department of Economic Development director Steve Silverman. “Now more than ever, we need to take Silver Spring revitalization to the next level.”
“This complex and groundbreaking agreement is finally signed. Now we look forward to working with the County Planning Department to move this project forward,” said Bruce H. Lee, President of Lee Development Group.
More information on the project is available at www.livemusicss.com.
Just when I thought I’d be able to ressurect this image… BOOM goes the dynamite! Fantastic.
Next on the list? Booking some of the most esoteric bands money can buy. First one should be something awesome like Gogol Bordello. You know, to really get the naysayers in the neighborhood up in arms.
Next? (Thanks, M.D.)
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You’re welcome.
Maybe some zombie walk in the future can culminate at the Filmore for some appropriate band, like Bad Brains.
I saw Rob Zombie at Verizon a while back. That’d be great, but I’m not sure The Fillmore could hold that crowd.
I say they get Oingo Boingo (incl Danny Elfman) to play on Zombie Walk Night. I’d die (pun intended) if they’d play “Dead Man’s Party” on Colesville
Fillmore will be nice – but we invite community support for our decade-long project to renovate the Old Blair (Stickley) Auditorium on Wayne Ave. that will be a true resource for Silver Spring:
Please pass this along to anyone you think might be willing to send an email to our County Executive and County Council in support of this project being placed on the 2011 CIP:
Right now, Montgomery County Executive Ike Leggett is preparing his Capital Improvements Program budget for the next several years, selecting which construction projects the county will fund.
We urgently need your help to contact him and ask that he include the renovation of the Old Blair (Stickley) auditorium project at the corner of Wayne Avenue and Dale Drive in Silver Spring.
You can easily contact County Executive Ike Leggett via the Old Blair Auditorium Project web site:
>>> http://oldblairauditorium.org/yes <<<
Please:
* Tell him you want the boarded-up Old Blair Auditorium renovated into a multi-use facility with a performance auditorium
and adjacent rooms, all for community and school use
* Tell him to include initial funding in the FY11 Capital Improvements Program (CIP) budget
This year, a series of community meetings were held, with participation from County agencies, the County Council, the school system, Sligo Creek ES and Silver Spring International MS PTSAs, local civic associations, and community members. Architects identified several options for renovating the existing Old Blair Auditorium (Elizabeth Stickley Auditorium) that would provide our community with a performance auditorium along with space for after-school programming and county youth-oriented services. [See http://oldblairauditorium.org/architect
If the county does not proceed in the next fiscal year, we stand to lose the $600,000 state bond bill that our community worked so hard for back in 2005.
You can really make a difference for our students and our community.
Please help us bring this neglected community resource back to life.
Go to: http://oldblairauditorium.org/yes
Thank you,
Old Blair Auditorium Board of Directors