The Wheaton Park District has decided against spending $19 million to help redevelop the Wheaton Grand Theater.
Mike Bernard, executive director of the park district, said the board's decision, which came Wednesday night during a special meeting, does not necessarily kill the project.
The board has not ruled out continued research on a project smaller in size and cost. He said the city would have to take a leadership role in the project going forward.
"(Commissioners) will not entertain developing a partnership strategy to fund the $19 million project," said Bernard. The board's tolerance level is $10 million or less, he said.
The Park District had planned to borrow $19 million to take ownership of the 84-year-old Wheaton Grand Theater and renovate and expand it. The theater could have opened for performances by late 2011.
Bernard said the board would rather see any future project with the theater remain within the foot print of the theater's building.
Commissioners made their decision after learning the results of a focus study commissioned to evaluate the planned project. "It galvanized the already existing opinion that the project couldn't sustain its self under its own weight," said Bernard.
