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NEWS RELEASES
City of Knoxville, Tennessee
Madeline Rogero, Mayor
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For Immediate Release
City to hold public meeting Thursday
Theater Construction Cost Analysis
Theater Construction Sketches
RELATED NEWS RELEASES
01/12/05 - Regal and City sign letter of intent
09/14/04 - Theater operating agreement announced
January 18, 2005 - The City of Knoxville, in partnership with Knox Heritage, will hold a public meeting at 6 p.m., Thursday Jan. 20 at the Knoxville Convention Center to review its analysis of the cost of renovating buildings in the 500 block of Gay Street.

The analysis estimates that rehabilitating the vacant buildings will cost at least $3 million more than new construction.

Mayor Bill Haslam earlier presented the conclusions to Knox Heritage, and agreed to a 45-day public process to allow alternatives to be explored to make the cost of renovation affordable to taxpayers.

"Our priority is to develop with Regal Entertainment Group a movie theater that fits well with the unique character of downtown and at the same time is designed for operating efficiencies that protect the investment of the City and its taxpayers," Mayor Haslam said.

The City also matched private funding with a $10,000 contribution to Knox Heritage to retain consultants to explore methods to eliminate the funding gap.

The cost analysis was conducted by the City in conjunction with design and construction experts from Regal Entertainment, government agencies and private industry.

For Immediate Release
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