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It probably comes as no shock, but the Rapids Theater is for sale. You can buy it for $3 million, or probably less.
According to Business First, owner John Hutchins spent $2 million renovating the venerable venue which reopened in 2009. Niagara’s Choice Credit Union is said to be foreclosing on $1.536 million worth of outstanding mortgage debt.
Mayor Bob Restaino, asked at a community event a few weeks ago, said the theater "somewher north of $300,000" behind in back taxes. If the bank wasn’t already foreclosing, the city planned to do so sometime in 2024.
The city is also ready to move on the Blue Cardinal properties in the bridge district including the Jenss Building as well as others. Plans for redevelopment havematerialized but a deep-pocketed Buffalo developer is said to have its eyes on the Jenss building.
Meanwhile, the Rapids Website is down. Outhouse Tickets, which has handled sales for shows at the theater in the last two years or so has nothing listed.
There is one show listed online, The End of the World Party featuring Until I Wake, Fight From Within, Orange Grove Ave, An Easy Death, Alterist, and Tim The Truth on December 29. The bands appear to be selling tickets themselves online.
The status of theater manager Anthony Marsocci and his wife Stephanie who were there for the last show hosted by Anita West is uncertain.
West hosted Poppa Chubby at the theater a few weeks ago but is now booking shows at Samuel’s Grande Manor in Clarence, an updated, smaller venue, with food, located in a safer area.
Theater owner John Hutchins awaits trial. along with bookkeeper Roberto Soliman. on charges of payroll protection fraud for allegedly receiving $750,000 in unjustified loans. The charges allege the duo fraudulently obtained Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP).
The loans available for these programs were designed to provide emergency financial assistance pursuant to the Coronavirus Aid, Relief, and Economic Security (CARES Act). The defendants applied for loans under the following companies owned by defendant Hutchins. Here's a link to the real estate listing
https://www.loopnet.com/Listing/1711-Main-St-Niagara-Falls-NY/29714252/
