THE CITY OF MONTEREY IS LOOKING INTO BUYING THE GOLDEN STATE THEATRE. THE MONTEREY CITY COUNCIL APPOINTED A SUBCOMMITTEE THIS WEEK TO LOOK INTO HOW THE FACILITY COULD BE TAKEN OVER THE FROM IT’S CURRENT OWNER, WHO IS LOOKING TO SELL IT FOR JUST UNDER 5-MILLION DOLLARS. A DUE-DILLIGENCE REVIEW, WHICH WOULD INCLUDE INSPECTIONS AND AN APPRAISAL OF THE PROPERTY, IS EXPECTED TO BE SCHEDULED. THE CITY MEANWHILE IS LOOKING INTO WAYS TO PAY FOR THE THEATER, EITHER THROUGH A SALES TAX OR FUNDRAISING EFFORTS.
