Aspen (c91) News

City wants to keep movie theater

Aspen Wants to Reel in Movie Theater

By Mitzi Rapkin, 5-12-06

Last night the curtain fell on the Stage 3 movie theater in Aspen. It marked the final showing of films in the three screen cinema that was recently sold to buyers who do not intend to keep it a theater.

Hours before Stage 3’s last showings, the Aspen City Council announced its intention to buy the Isis Building, what is now the last remaining movie theater in Aspen. The Council’s intent is to preserve the character of downtown Aspen and ensure that what seems so common throughout the country, movie theaters, do not become extinct in the city where real estate is king and fractional condominiums more profitable than moving pictures.

“A majority of City Council agrees that movie theaters are important in downtown Aspen,” Mayor Helen Klanderud said.

On Monday the Council will decide if it wants to complete the deal. If so, it will put down $500,000 of non-refundable, earnest money. The City’s purchase of the building for a total of $8.75 million will ultimately be up to the voters in November. If the voters approve the purchase, the City will issue bonds that will be based upon a tax increase either in the form of sales tax or property tax. If the voters reject the purchase, the $500,000 would be forfeited.

Currently there are two other offers on the building, both of which would likely eliminate the two of the five screens and possibly eviscerate all movie operations.

Sam Houston is a partner in the current building. “I’ve lived here 21 years and I think a lot of people are interested in seeing it stay a theater. We had a contract to sell earlier this year that didn’t go forward,” he said. “Since then we’ve gotten two unsolicited offers. This is probably the last opportunity for the city to obtain property and deed restrict it. As a partnership we never chose to convert the theater to other uses and subsequent buyers likely will.”

Currently, the City of Aspen has issued a six-month moratorium on new building permits and land use applications in most downtown building zones. Part of the public debate going on in Aspen is that the city is losing its history and character. The loss of the Isis as a theater and its conversion to retail operations or high-end housing would no doubt add to the feeling of some in Aspen that it is losing its character.

A few years ago a ballot question asked the voters if they wanted to support the City leasing the Isis building and the voters overwhelmingly said no. However, at the time, it would have meant government would have been competing with private industry, meaning the Stage 3 movie theater which is now closed.

If the City decides to go ahead with the contract, it intends to continue the lease with the current operator of the movie theater.

The council decides on the issue Monday night and if it puts the $500,000 earnest money down, it has until August to craft the ballot language that will ask the voters if they want to pony up funds to help the government keep movies an essential part of downtown Aspen entertainment.

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