The city of Mobile is closer to choosing what company will manage the Saenger Theatre after the Centre for Living Arts washed its hands of it on March 10.
On Aug. 28, the City Council will decide whether or not SMG will manage the local landmark theater. SMG already manages the Mobile’s Convention and Civic centers.
If the council approves, the agreement begins on Oct. 1, 2013, and goes through Sept. 30, 2016. The city could also extend the terms for up to three additional one-year periods.
SMG would be paid by receiving 50 percent of the first $200,000 of the net operating loss/profit and then 25 percent of the net operating loss/profit if the theater brings in more than $200,000.
The city would still be responsible for capital equipment and improvements to the theater. However, SMG is responsible for routine maintenance.