Save the 4th Avenue Theatre
Media/Press

05/07/2015 - A rally to save the 4th Avenue Theatre was held on Saturday, May 2

04/30/2015 - Former 4th Avenue Theatre owner plans rally to save Anchorage landmark

04/28/2015 - Gottstein: Say no to tax break for gutting Fourth Avenue Theatre

04/27/2015 - Owners of 4th Avenue Theatre ask for tax break for major makeover project

03/21/2006 - Curtain may be closing on plan to save theater

03/17/2006 - Downtown theater a mark of permanence

01/25/2006 - Save the 4th

12/18/2005 - A look at 4th Avenue Theatre's fate

12/18/2005 - 4th Avenue Theatre is for sale, and its owner expects to wait a while

12/17/2005 - Prospective buyers could tear down or gut 4th Avenue Theatre

Curtain may be closing on plan to save theater

Efforts to preserve the 4th Avenue Theatre hit two snags this week.

First, building owner Robert Gottstein says that the city's call for a second appraisal of the theater's value breaches an agreement to purchase the historic building. Second, a poll commissioned by the city shows passage is unlikely for Proposition 6, the item on the April 4 ballot that would authorize issuance of a $2 million bond toward the theater's purchase and restoration.

"I don't see how there is a deal now," Gottstein said. "I don't think (the city has) met the terms" of a written purchase agreement, which states that "the price of the property shall be $4 million or the fair market value, established by an appraisal, whichever is less."

Friends of the 4th Avenue Theatre -- a committee of indiviuals and concerned groups convened by Mayor Mark Begich -- hold that the $3.75 million appraisal of the theater property's value, recently delivered to the city by Black-Smith, Bethard & Carlson -- is out of line. The committee says the number is too far above the $1.44 million assessed value placed on the property for tax purposes.

"The committee wanted a second appraisal just to confirm values, because they're representing the public and the taxpayers," said Robin Ward, executive director for the city's Heritage Land Bank. Begich appointed her to act as liaison between the group and the municipality.

"I know (Gottstein) is upset at us doing this, but the (Friends committee) wanted to make sure they create a deal the taxpayers can feel comfortable with," Ward said.

Gottstein said Friends of the 4th Avenue Theatre is not a party to the written agreement, or letter of intent, and therefore can't order a new appraisal.

"There were contingencies (in the letter) including Assembly approval but no contingency for approval by any sort of task force," Gottstein said.

Gottstein also said he's bothered by the city's insistence on a second appraisal when it knows another appraisal -- commissioned by Gottstein's banker four years ago -- is already in existence. According to Gottstein, this appraisal came in at $3.65 million, very near the $3.7 million figure to which the task force has objected.

Gottstein wouldn't go so far as to declare the negotiations with the city at an impasse. But he said he is skeptical about whether preservation efforts can be successful if -- as the poll commissioned by the city seems to indicate -- voters won't authorize a jump in their property taxes of 65 cents per $100,000 of assessed value.

The telephone poll, conducted by Ivan Moore on Thursday, sampled 500 registered voters, 52.5 percent of whom said they would have voted the measure down if the votes were cast that day. "Yes" votes came in at over 44 percent, with a little more than 3 percent registering as undecided.

"Under what circumstance could the city buy the property, if the voters say they're not interested in it? That's my problem," Gottstein said. "If the voters believe the saving of the building is not worth a $2 million investment, then that will be a message that the building may not be worth saving. How could they go forward, politically, with negotiations if that were how the vote came out?"

According to Ward, even if Proposition 6 is defeated, the effort to preserve the 4th Avenue Theatre won't be dead.

"It will just mean the fundraisers will have to work twice as hard," she said.

Friends of the 4th Avenue Theatre will be meeting this afternoon in City Hall to discuss the group's response to Gottstein's objections.


Daily News arts editor Mark Baechtel can be reached at 257-4323 or mbaechtel@adn.com.