This investment includes 10 free tickets (annually) and other perks.
Here is the text from their webpage (located at http://www.regaltheater.org/seatbonds ) which describes the program. The redevelopment also includes the goal of becoming the first theater in the United States with holographic projection technology in addition to entertainment from everyone's favorite artists in R&B, Jazz, Hip Hop and Rap, as well as theater, dance, film, comedy and more
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Seat Bond Program
The Avalon Regal Theater offers a unique opportunity for the community to invest in its success through the Seat Bond program.
The purpose of this program is to promote self-investment and reduce reliance on government subsidies and other non-market based financing for community development in our neighborhood.
The Seat Bond program includes 10 tickets to performances at the Avalon Regal Theater per year, in addition to invitations to exclusive investor events, VIP access to select shows, the ability to buy tickets to hot shows before they go on sell to the general public, and a named seat in the auditorium. The first class of bond holders will be recognized at the 2017 Grand Opening.
The most important aspect of a Seat Bond is the fact that it is an investment, which means Seat Bond owners are not just patrons of, but investors in this integral part of the community.
Each Seat Bond is a $1,000 investment and includes:
10 tickets to performances per year (does not include private events)
8% return on each $1,000 investment
Return of initial investment after 1 year, with the ability to re-invest
Embossed name plaque positioned on an auditorium seat
Framed Seat Bond Certificate and duplicate name plaque
Annual 1099-INT form for reporting taxable interest income
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ReplyDelete"The New Avalon Regal Theater"...In Chicago in the late 80's there was an old theater on 79th right off of Stony Island Avenue that had been abandoned for years...Some investors got it and renovated it and Renamed it The New Regal Theater...It was very near and dear to me because my father(Moses Gant) was a jazz musician(Google Him) that played at the original Regal Theater that was on 47th and King Drive and yes he would take me when I was a young child...I have a few memories of it but not many(I was 3 or 4 at that time)...But driving down King Drive I never forgot it...When the new owners opened The New Regal on 79th of course I was interested and my band went to a try out for some sort of talent show they were having in 1990...However we didn't even get to try out...Because really bands were drying out at that time. So they really didn't even have the equipment(PA's system) to accommodate us...I wanted The New Regal to be like Metro Chicago on the north side(Wrigleyville)...Metro books things almost 5 nights of the week. To me it was always cutting edge. In fact it was so very cutting edge anytime Prince played a big show in Chicago if you missed the big show all you had to do was go to Metro Chicago around 3am and you could catch Prince there...Aggressive booking is what I wanted for The New Regal and i know that will be kind of tough for the new owner...But it can be done. I have seen some weird things happen with that place=like the time the rock group Pearl Jam played a show there...It was around the time they were having their war with Ticketmaster(Live Nation bought them out) . So they were playing no venues owned by Ticketmaster and seeing all of those White young adults in that dangerous area was something to behold...Anyhow I plan to invest and I hope some of you at least think about it.
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