Contract entered to buy former theater

By JACK PALMER Staff Writer Published:

A local non-profit foundation has entered into a contract to purchase the former Valentine Theatre from Family Christian Center for $260,000. We have signed an offer to purchase, Valentine Theatre Foundation, Inc. spokesman Dick Stroede confirmed Thursday. The contract is contingent on the city of Defiance helping us with the financing. Stroede said that council is being asked to provide debt service in the amount of $250,000, with the remaining $10,000 assumed by the foundation. I have been told that city council will likely consider some type of funding ordinance on Tuesday, Nov. 18, he stated. We realize it would need three readings in order to receive public input, but we are hoping council takes relatively quick action.