Attorney John Giere of Wescott Law recently assisted in a joint effort between the City of Laconia and the Belknap Economic Development Council (BEDC) to purchase and renovate the Colonial Theater on Main Street in downtown Laconia. The Theater first opened in 1914 as motion pictures captivated the country in the post-World War I era. However, after the addition of five screens within the 20,000 square-foot space in the 1980’s, the Theater finally shut its doors to movie-going patrons in 2001.  In recent years the theatre was designated as being one of the State’s “Seven to Save” by the New Hampshire Preservation Alliance.

As part of the BEDC’s initiative to redevelop vacant or underutilized properties in the County, BEDC will soon purchase the Colonial complex from the current owner Patricia Baldi for $1.4 million. The City of Laconia will loan the purchase price to the BEDC for interest only over an 18-month term. The City will then lease the property as its exclusive tenant for seven years for the benefit and enjoyment of the public. At the end of the tenancy, the City has the option to receive repayment from the BEDC on the loan, or forgo repayment and take ownership of the complex.

Mayor Engler expressed a special thanks to Wescott Law’s Attorney John Giere who serves as Vice Chair and Board Member of the BEDC for his significant contribution in negotiating the sale of the Theater. Also dedicated to the cause is Attorney Rod Dyer who has been involved with the efforts to purchase and restore the Colonial Theater over the last several years.

Click here for the full article as seen in the Laconia Daily Sun.