City of Laconia Finance Committee Meeting Minutes January 2026
BEDC Loan and Theater Ownership Transfer Reviewed
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Description
The Laconia Finance Committee reviewed the financial structure surrounding the Colonial Theatre, noting that BEDC, under 609 Main St LLC, was loaned about $8 million and pays roughly $42,000 per quarter in interest. The City has reduced the related bond from $6.7 million to $5 million, with interest paid from the downtown TIF, and is working with BEDC to transfer ownership of the theatre by the end of June 2026.
Contract Details
Vendor
BEDC
Agency
City of Laconia, NH
Contract Type
FINANCIAL_SERVICES
Document Date
January 27, 2026
Contract Term
City due to own Colonial Theatre by end of June 2026; historical loan and bond arrangements referenced
Renewal Date
2026-06-30
Renewal Info
Long-term financing arrangement involving BEDC and 609 Main St LLC continues as the City pays down a bond originally $6.7 million. No specific renewal or extension terms were discussed; focus is on eventual transfer of ownership by end of June 2026.
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