City Spending Board to Consider Selling Senator Theatre

A proposal to terminate the lease and sell the historic theater will be heard on Wednesday morning.

(UPDATE) 8:58 p.m.—The city will officially submit a proposal to sell the Senator Theatre to its current operators on Wednesday.

Under the proposed arrangement, the city will hold the $500,000 Purchase Money Mortgage on the property.

The agreement would terminate the current lease of the building—operated by James "Buzz" Cusack and his daughter Kathleen Lyon as Senator Theatre, LLC—and sell the building to its tenants.

The city’s director of finance has recommended the approval of the sale, according to the Board of Estimates agenda.

The agenda also states that the project’s financing needed to be revised because construction bids for the renovations were higher than anticipated.

"The new financing strategy centers on a sale of the property, rather than a lease, which will allow it to be used as collateral for the City and State of Maryland loans that are essential to the project," the proposal reads.

The total cost of the renovation, including the acquisition of the property, is expected to be $3.49 million. 

"There was literally no way to make it work without having the Cusacks actually  own the property. The city is going to hold the mortgage on it, and the city and the state together will share first position so, god forbid, anything goes wrong it will still be in our hands to determine what happens with the property, which was the whole point, as far as I was concerned in owning it in the first place," said Councilman Bill Henry, who represents the area where the theater is located.   

Funding Sources:

  • State Loan: $560,000
  • City Loan: $700,000
  • Community Legacy: $425,000
  • Equity: $950,000
  • Bank Loan: $350,000
  • Façade Grant: $6,000
  • Purchase Money Mortgage: $500,000

The bank loan is expected to bridge the financing gap between now and the time an equivalent amount in state and city historic tax credits kick in.

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Balt Observer September 24, 2012 at 10:26 PM
Nicely done, eh Kiefaber? It's kinda poetic how your jailing will come right before the Senator transfers over to private hands. Funny how karma works out, isn't it?
Baltimore Joe 2012 September 25, 2012 at 03:37 AM
Doesn't Cusack own the contracting company that is working on the theater? So he is paying himself out of the $$$ being used to pay for restorations... and the original "quote" was too low compared to what the current expenses are? Most contracts I've been involved with in construction are proposed by the company doing the work. If the estimates are wrong and the costs are higher, the owners of the theater should find a company who can estimate the job better. Sooooo... the city is giving him the theater and paying him to fix it at the same time? ...And has there been any competition for the bids to do the construction work that is being paid for in part out of either loans based on the equity in the building or other sources? Even any money that Cusack is contributing to the costs are being recouped to a certain percent because he owns the company doing the work. Unless there is no official GC and the work is being done on an "owners" permit? Am I reading this correctly? So he absorbs the equity in the property, overpays himself for construction expenses (work expenses higher than estimated... by him) paid for by other sources in addition to the equity... then if the whole thing falls apart, the citizens of the city are left holding the mortgage. Again, I'm not saying this is the case because I don't know... but this is certainly what it seems like! Can anyone offer some knowledgable clarification?
Tom Kiefaber September 25, 2012 at 04:22 AM
Well..By George, He's got it! :-)
Balt Observer September 25, 2012 at 12:08 PM
So long, Kiefaber. Next time, if you don't want to do the time, then don't do the crime. BTW, stop talking to yourself. That's not going to go over well in the hole. ;-)
Tom Kiefaber September 25, 2012 at 12:24 PM
THE BDC IS ATTEMPTING A RIGGED, STEALTH END-RUN TO TRANSFER THE CITIZEN OWNED SENATOR THEATRE TO PRIVATE OWNERSHIP BY A CHAP COMMISSIONER ALONG WITH 3 MILLION IN TAXPAYER FUNDS TO A TROUBLED PROJECT WITH NO PARKING RIGHTS! EXPRESS OPPOSITION BEFORE NOON TODAY TO: Joan.pratt@baltimorecity.gov. Please help to spread to the word to others. If they hear enough opposition they will back off for now and allow time for a legal challenge. It's wrong to do this shocking transfer to private crony ownership plus millions in taxpayer funds for a private speculative business venture without consulting the owners, the citizens of Baltimore. NO PUBLIC HEARING HAS BEEN HELD. THE BOE IS A RUBBER STAMP STEALTH PROCESS.
Balt Observer September 25, 2012 at 12:32 PM
So, the red-faced, wild-eyed crackpot is yelling and shrieking away from behind the keyboard again, huh? Calm down, Kiefaber, before you have a stroke. We wouldn't want that before your hearing. Maybe your jailers will have something for you to do with your apparently overactive typing fingers. :-D
Tom Kiefaber September 25, 2012 at 12:43 PM
Tom Kiefaber September 25, 2012 at 12:46 PM
Balt Observer September 25, 2012 at 12:50 PM
By George, I've got it! KIEFABER THINKS HE CAN YELL AND SCREAM HIS WAY OUT OF JAIL TIME! LOL. Sorry Kiefibber, not gonna work. :-D
AnnKangarouse September 25, 2012 at 01:26 PM
@Baltimore Matt. Not sure if this helps in determining who/what The Cusack Company is, but it's all that can be found to date. http://start.cortera.com/company/research/k9k6orp4o/cusack-co/
Tom Kiefaber September 25, 2012 at 01:26 PM
Go on home now Balt Observer, I hear your mamma callin' you. :-)
AnnKangarouse September 25, 2012 at 01:29 PM
OH NOOO! IT's MR. BILL!!!! He's at it again. BRAVO to Rev. Brown for standing up and speaking out. Henry's 'not taking any sides', he's just following orders and greasing his palms in the process. (as usual)
Balt Observer September 25, 2012 at 01:32 PM
Get on into jail now, Kiefibber, I hear the wheels of justice crushin' ya. :-)
Tom Kiefaber September 25, 2012 at 01:40 PM
To better understand the racial profiling implications of Councilman Henry's pressure on long term area neighbors, Pleasant Hope Baptist Church, please read the information posted below. Councilman Henry serves as the BDC's corrupted strong-arm, hatchet-man in North Baltimore. http://www.siriusthoth.com/senator/boe_text.pdf http://www.siriusthoth.com/senator/senator_rfp_analysis.pdf
Balt Observer September 25, 2012 at 01:53 PM
LOL. So now you want to try to introduce racial issues to try to save your hide and interfere with Senator operations? Why not bring Islamists into it, too? As is always the case with everything you touch, Kiefaber, your nutty plan will fail.
Tom Kiefaber September 25, 2012 at 02:09 PM
Councilman Henry made the move that introduced clear profiling tactics, which Reverend Brown has courageously stepped up and publicly claimed are taking place to push Pleasant Hope Church congregation out of the community. I note the Pleasant Hope congregation worshiped for a year at The Senator without charge when my family stepped up and offered them The Senator's use, back when their church was under construction in the late 70's. We didn't need to be asked. What's happening now?
Balt Observer September 25, 2012 at 02:30 PM
Well, time grows short as the Kiefibber's Rambo nutball war mercifully comes to an end. Hopefully you will emerge from the slammer a new and changed man, Kiefaber. This will be a case study in our state's rehabilitation efforts.
AnnKangarouse September 25, 2012 at 02:41 PM
Hey yeah Balt Odor, let's bring KARZAI into this. (inside joke) Will you be attacking Rev. Brown as well?
AnnKangarouse September 25, 2012 at 02:48 PM
Your oddball weirdo stalker bullying commentary speaks volumes as to your character BO. "You must be very envious, considering your own demise would generate nary a ripple."
Balt Observer September 25, 2012 at 02:50 PM
Ah, the end of the silent treatment, huh Gayle? Is AstroSquirrel going to be making an appearance as well, considering that the Kiefibber won't be allowed to spew his rubbish from jail?
Smiley September 25, 2012 at 02:54 PM
How wonderful the last month or so has been without seeing anything from these two pathetic clowns. Good luck at your trial today, Tommy. Ya may want to pack a toothbrush.
Smiley September 25, 2012 at 02:56 PM
Can you Imagine the poor cell mate who may have to hear all of his conspiracy theories over and over again? That poor bloke.
AnnKangarouse September 25, 2012 at 03:07 PM
Why are you on here bullying and stalking and degrading yourselves here if you claim to not want to see any comments from myself and others? If you're too much of a wacko whiny coward to say these things to my face, then don't say them at all. You are a distraction here on The Patch Site.
Tom Kiefaber September 25, 2012 at 03:14 PM
Apparently Belvedere Square's new owners want no online association with Councilman Henry's effort to force Pleasant Hope Church out of the area, done at the behest of the new owners of the publicly-HUD-funded, *profiled* upscale shopping center next to Homeland. The *big-picture* BDC/BS developer plans for the commercial district have been revealed and finally clarified by Reverend Heber Brown. Now does the Senator being finagled away by the from its former owner by the BDC and gifted to a crony developer/CHAP commissioner make more sense?
Balt Observer September 25, 2012 at 03:17 PM
Still posting, Kiefaber? You're going to be late for your hearing. I'd imagine AstroSquirrel is taking you, right? Why don't you just ask her to join you in the can? After all, she carries your jockstrap for just about everything else.
Balt Observer September 25, 2012 at 06:40 PM
On Case Search, it looks like the assault charge from last year's Harry Potter incident was reopened as well so it must have been a probation judgment. Yet another strike against Kiefaber. Wonder if he'll be smiling for his perp walk.
AnnKangarouse September 25, 2012 at 06:42 PM
This sounds familiar. He's been down this road before..... http://articles.baltimoresun.com/2002-03-13/news/0203130089_1_charles-theatre-projects-tax-credit/2
AnnKangarouse September 25, 2012 at 10:09 PM
Yes. The Sunpaper headline TODAY speaks for itself... it's set to be approved TOMORROW.
Another Day September 26, 2012 at 12:39 AM
Help me understand this comment. Reverend Herber Brown thinks they want to take his church for parking. What does that have to do with what's going on at The Senator?
Balt Observer September 26, 2012 at 01:14 AM
A reasonable request, Another Day. However, the answer, if there is any forthcoming, will most likely leave you shaking your head in puzzlement. Reason and logic are anathema to Kiefaber and his lackeys.


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