By Daily Press staff
The deadline for the Santa Monica Playhouse to come up with a $500,000 down-payment to keep its building was extended to midnight on Wednesday.
Supporters of the theater raised more than $100,000 in May, but officials said Monday the playhouse is still $15,000 short of its goal.
If it fails to come up with the cash, the old theater will finish its current shows and classes and most likely draw the curtains for good. The cost of moving would be even more costly, officials said.
Fundraising has kicked into high gear this week, with actors and volunteers manning telephones from 8 a.m. until midnight.
Tickets for next weekend’s Dear Gabby gala benefit performances count toward the goal.
The internationally-acclaimed playhouse, which is the oldest continuously producing theater company and conservatory in the city, opened in its current location, on Fourth Street between Wilshire Boulevard and Arizona Avenue, in 1962.
Back then, it paid $200 a month in rent, said Sandra Zeitzew, director of public relations. Today, it pays $10,000 and if it stays past June 4, the rent will be bumped up to $13,000.
Fundraising for the Santa Monica Playhouse began 18 months ago. According to the terms of the deal with the landlord, local attorney Jules Kievits, the Santa Monica Playhouse must hand over a $500,000 down payment for its portion of the property — which includes two theaters, a rehearsal area and a dressing room.
The playhouse has met each of its six-month goals over the past year and a half to make sure it’s on track for the deadline. If they’re successful in purchasing the theater, playhouse officials expect the mortgage payment to be as little as half as much as current rent payments.
To donate to the Santa Monica Playhouse, call 310-394-9779, ext.1.
Originally published in the Santa Monica Daily Press print edition on June 3, 2003. Read the original PDF.