City selling seats, projectors purchased by Penmar group

You might soon be able to buy a little piece of history from the new theatre that never was.

City council voted Tuesday to sell 310 seats and two projectors that were purchased for the ill-fated revival of the Penmar Theatre, but placed in storage last year after the Martin Street building was sold to a winery.

The seats, which cost $96 each, were bought by the Penmar Community Arts Society with money loaned to it by the City of Penticton. The society also spent $21,400 for a pair of projectors and $11,315 on electrical upgrades, for a total of $62,606.

As security on the loan, the city reserved the right to take back the equipment and sell it to recoup some of its loss.

“Realistically, I think if you can get 50 cents on the dollar (for the projectors and seats) you’d be doing very well,” said Mayor Andrew Jakubeit.

He also noted the loan agreement with PCAS specified the money was to be spent on hard assets, like the seats and projectors, which could be sold off — not on electrical upgrades.

The electrical work “sort of deviated from the spirit of the agreement,” said Jakubeit, and that money won’t be recovered.

City finance manager Jim Bauer told council he’d spoken to PCAS president Kerri Milton, who was “quite receptive” to the proposal to liquidate the assets.

Bauer said that although the society has been de-registered by the province because it failed to submit annual reports, Milton assured him the outstanding paperwork has now been filed. He confirmed separately that PCAS owes money to a local architect.

Milton, also the former executive director of the Downtown Penticton Association, moved to Victoria last year. Her group’s vision for the theatre was to convert it into a community-owned performing arts space.

Coun. Judy Sentes noted that while the loan to PCAS “had an unfortunate outcome, we’ve had many positive outcomes” with similar arrangements involving other local non-profits, such as the Shatford Centre and SS Sicamous Society.

City staff will now work with PCAS to get the most money possible for the equipment.

Many Hats Theatre Company and the Penticton Lakeside Resort have both expressed interest in the seats already.