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Rome, Desoto Theater
Closing Date: March 7, 2014
In March 2014, GCF closed a $100,000 loan to the Rome DDA to assist in partially financing renovations to the historic DeSoto Theatre located at 530 Broad Street in downtown Rome for use as a theater. The DDA made a simultaneous loan to Historic DeSoto Theatre Foundation, Inc., the project’s developer. The project cost is $250,000.
Project Details
Loan Recipient
Downtown Development Authority of the City of Rome
Sub-Recipient
Historic DeSoto Theatre Foundation, Inc.
Project Cost
$250,000
GCF Loan Amount
$100,000
DD RLF Loan Amount, if any
N/A
Project Use
Theatre
After
Foundation Project Impacts
335 New Downtown Businesses
2196 New Jobs Downtown
$208 Million in Private Investments
8 Cultural Facilities
347 Downtown Housing Units
157 Hotel Units Downtown
1,600,000 Redevelopment Floor Area sf
229,000 New Construction sf