FACILITIESDISCUSSED

City of Laconia Finance Committee Meeting Minutes January 2026

Laconia Reviews Colonial Theatre Contract With Spectacle

$162k per year, increasing at 3% per yearCity of LaconiaSPECTACLEJanuary 27, 2026

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Description

The City of Laconia Finance Committee reviewed its management contract with Spectacle for the Colonial Theatre, which currently pays the vendor $162,000 per year with a 3% annual increase and expires June 30, 2026. Committee members discussed a potential new two-year term with extensions, revised financial terms, clearer capital responsibilities, and increased community and nonprofit access.

Contract Details

Contract Amount

$162k per year, increasing at 3% per year

Vendor

SPECTACLE

Agency

City of Laconia, NH

Contract Type

FACILITIES

Document Date

January 27, 2026

Contract Term

Current contract expires 6/30/2026; prior contract term was 5.5 years; committee leaning toward new 2-year contract with possible extensions

Renewal Date

2026-06-30

Renewal Info

Existing management agreement for the Colonial Theatre runs through 2026-06-30, following a prior 5.5-year term. The city is considering a new shorter, approximately 2-year contract with optional extensions instead of another 5-year term, with potential changes to concessions, capital responsibility language, municipal and Library use days, and performance metrics. Only Spectacle submitted timely proposals in two bid rounds.