CUR­TAIN CALL?

Broad Theater sched­uled for sher­iff sale

The Reporter (Lansdale, PA) - - FRONT PAGE - By Bob Keeler bkeeler@21st-cen­tu­ry­media.com @by­bob­keeler on Twit­ter

SOUDERTON >> Will some­one ride in to save the day or is this the last scene for the Broad Theater?

The al­most cen­tury-old theater is sched­uled to go to sher­iff sale on March 29, Souderton Bor­ough of­fi­cials said at coun­cil’s Jan. 9 meeting.

The bor­ough filed for the sher­iff sale be­cause the theater still owes the mu­nic­i­pal­ity more than $450,000 of a $500,000 loan to the theater made with a state grant that was to be re­paid to the bor­ough so the mu­nic­i­pal­ity could use that money to help fund ad­di­tional eco­nomic de­vel­op­ment projects, Bor­ough Man­ager Mike Coll said.

The theater closed in 2006, ac­cord­ing to Souderton In­de­pen­dent archives. Two years be­fore that, new own­er­ship had taken over fol­low­ing a 2004 sher­iff sale.

Con­struc­tion work on plans by cur­rent own­ers Broad En­ter­tain­ment LP, in­clud­ing restor­ing the theater and adding two restau­rants and meeting spa­ces, was be­gun, then stalled out prior to com­ple­tion.

In 2015, two dif­fer­ent sher­iff sales were sched­uled — one brought by Souderton Area School Dis­trict for un­paid taxes and one by Univest Bank & Trust Com­pany for un­re­paid loans. In both cases, the sher­iff sale was stopped.

This time, though, the sher­iff sale is ex­pected to hap­pen, Charles Eber­sole, one of the Broad En­ter­tain­ment part­ners said.

The fi­nan­cial com­pli­ca­tions, in­clud­ing the death of Jeff Miller, an­other of the part­ners, makes the sher­iff sale the best so­lu­tion at this point, he said.

“That’s the clean­est way to go for ev­ery­body,” Eber­sole said.

DIG­I­TAL FIRST ME­DIA FILE PHOTO

This is the ex­te­rior of the Broad Theater com­plex on Broad Street in Souderton.

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