Salt Lake County has added more space to its inventory of downtown arts facilities, paying $1.25 million for the vacant RESCO Building at 158 W. 300 South.
In his announcement of the purchase Friday, Commission Chairman Jim Bradley said the building will be a tremendous asset to the county's cultural environment."We're excited about this; we think it says something very positive about our commitment to quality of life in our community," Bradley said.
Occupied for decades by a restaurant and store supply firm, the building will function as an annex to the county's Capitol Theatre, 50 W. 200 South, where office space and stage rehearsal time is at a premium.
Plans for the RESCO Building call for the construction of offices and rehearsal facilities for a number of tenant organizations, plus a small theater - seating 400 to 500 - for performances.
Bradley said that while the county provided the funds for the purchase of the building, the arts groups themselves will have to come up with the more than $2 million needed to renovate it. No decision has been made on who will operate and manage the facility, Bradley said.
In addition to the Capitol Theatre, the county owns and operates Abravanel Hall, Bicentennial Arts Center and the Salt Palace.
The money for the purchase of the RESCO Building came from the county's Tourism, Recreation, Cultural and Convention Fund. Financed by tourism taxes and convention revenues, the fund has done so well this year that no planned projects or programs were sacrificed to buy the building, according to Bradley.
"But this is truly a financial partnership between government and the private sector, with both benefiting," Bradley said.
The county stands to gain revenues because the main stage at the Capitol Theatre will be available for more money-making "Broadway bookings," such as "Les Miserables," Bradley said.
He said arts organizations have already started their renovation fund-raising efforts and have come up with more than $200,000 from private sources and $400,000 from the Salt Lake Redevelopment Agency.