Friends of the Lyric get first refusal rights
Should someone offer to buy the Lyric Theater, the Friends of the Lyric have the right to refuse first.
At a meeting Wednesday morning at Dakota Farms, the Rugby Job Development Authority board added to the Friends of the Lyric’s theater lease the first right of refusal on building offers.
JDA Executive Director Joseph T. Pelt said he received inquiries about purchasing the theater- which the JDA owns-and that has given the Lyric a market value.
However, Pelt said he thought the inquiries were more of a test than anything else, and that any potential problems with this should be taken care of before they start.
“(The Friends of the Lyric) put a lot of money in this,” Pelt said.
Rugby mayor Arland Geiszler asked if JDA executives could be given the authority to negotiate the theater’s lease.
Board member Bonnie Kuehnemund abstained from voting on the first right of refusal.
The board discussed a pilot program for student loan repayment assistance. Vice President Tanner Johnson asked if it was going to be done on a case-by-case basis or if there would be a threshold for assistance. Board member Nathan Kunde said he preferred assistance be done through businesses rather than through individuals. Board president Fr. Tom Graner said he would like to see a proposal for the program.
The board appointed Galen Mack as the JDA’s attorney.
The board learned that appraisal values on lots in Chalmer’s First Addition were in, as was a USDA grant to help fund Souris Basin Planning Council low-income housing rehabilitation projects.
The board approved the treasurer’s report, and the minutes of the June 29 meeting.
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