During a recent city council meeting, Anacortes officials discussed a proposed purchase and sale agreement for the Anacortes Cinemas movie theater building, currently owned by Anacortes Properties LLC. The city aims to acquire the building for $500,000, which includes a 30-day feasibility period for evaluation and negotiations regarding the existing lease with the current tenant, Faraway Entertainment.
City staff, led by Miss Wetnam, presented the action item, highlighting the theater's location and its relationship to adjacent city-owned land, which includes a public parking lot. The purchase is contingent upon the city's satisfaction with the lease terms and the operational viability of the theater during the feasibility period. This period will involve a building inspection and discussions with the current tenant about continuing operations for five years to ensure revenue for debt service.
Public feedback was solicited, with taxpayer Linda Martin expressing concerns about the city's role in operating a movie theater. She questioned the allocation of funds, emphasizing that the $500,000 expenditure was not included in the city’s budget or long-term plans. Martin urged the council to clarify their intentions for the property and how the purchase would impact other city services, such as public safety and infrastructure.
The council is expected to deliberate on the proposal, weighing the potential benefits of maintaining a local cinema against the financial implications for the city and its taxpayers.