Jerald Gary, the new owner of the Regal Theater on 79th at Stony Island, is offering an investment opportunity for those who want to help resurrect the theater.
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
Individuals or organizations can purchase multiple Seat Bonds. Seats Bonds in the first three rows on the main floor are reserved for VIP members of Singularity and have a $10,000 minimum.
The Avalon Regal will feature entertainment from everyone's favorite artists in R&B, Jazz, Hip Hop and Rap, as well as theater, dance, film, comedy and more. The theater will also be the first in the United States to have holographic technology. This is truly an exciting and historic opportunity for the community.
See the video below for a tour and interview with Avalon Regal Theater owner, Jerald Gary.
The Seat Bond program is only accessible through this website. Seat Bonds are available on a first-come, first-served basis. You cannot choose specific seats for your name plaque and Seat Bonds do not represent seating assignments for events. Seat Bonds are non-transferable.