TO: Mayor and City Council
FROM: Kevin Sing, Director of Finance
SUBJECT:
title
Resolution Approving a Grant to the Will County Metropolitan Exposition and Auditorium Authority (Rialto Square Theatre)
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BACKGROUND:
The City has been providing annual funding to the Rialto Square Theatre since 1980. The Rialto Square Theatre is a regional destination and economic driver for Joliet’s downtown area. Beginning in 2024, this funding has been a formal capital grant. The purpose of the capital grant is to ensure funds are used to preserve the theatre building and are not eligible for operations.
The Rialto has requested another $475,000.00 in grant funds from the City to use for their $8.5 million HVAC renovation project. The Rialto is also using the 2024 grant for the HVAC project.
This grant has been included in the 2025 annual budget under Org: 02001000/Object: 548400.
Finance Committee will review this item on April 15, 2025.
CONCLUSION:
The grant will continue to preserve the Rialto Square Theatre allowing for its continued success as a regional destination and economic driver in Joliet’s downtown area.
RECOMMENDATION:
recommendation
Based on the above, it is recommended that the Mayor and City Council approve a Resolution Approving a Grant to the Will County Metropolitan Exposition and Auditorium Authority (Rialto Square Theatre).
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