Sale of the Monarch Theatre to be Announced.

**MEDICINE HAT, AB - **After a few years of vacancy, the fate of the Monarch Theatre is to be revealed by City Council at their regular council meeting on Monday as part of their New Business announcements.

According to meeting agenda posted recently, the sale of the city's oldest movie theatre is finalized. Per the council agenda:

"It is recommended through the Administrative Committee that City Council approves the sale of the Monarch Theatre to the purchaser with the following key terms and conditions:

• Purchase Price of $100,000.00
• The Property is sold “as is, where is”.
• The sale of the Property using a Real Estate Purchase Contract in a form and content satisfactory to the City Manager and City Solicitor."

Background

In June 2021, prior to dissolution of the City Centre Development Agency (‘CCDA’), the City acquired the Monarch Theatre with intention to facilitate transition to a new future owner that would use it in a way aligned with the redevelopment and vibrancy aspirations in the City’s Municipal Development Plan (‘MDP’). In January 2022, the City issued an Expression of Interest (‘EOI’) and received responses from interested parties, all of which indicated a desire to activate the space in ways aligning with the MDP. The City entered negotiations directly with a proponent interested in acquiring the facility. Negotiations were unsuccessful in arriving at terms mutually agreeable to both parties.

Following this, with Council direction, the City issued a Request for Proposals in December 2022. Three submissions were received. The preferred proponent was selected in accordance with the evaluation criteria: intended use; financial obligations of the City; organizational capacity and experience; and alignment with development plans and preservation of Historic Heritage significance.

The Purchaser intends to operate the Monarch Theatre as a movie theatre.

This deal will once again breathe life into the "Crown Jewel" of Medicine Hat. The Sun City Sentinel will post more details as they become available.