Beach Theatre Foundation

Loan Re-Payment Plan

for the City of Cape May

June 19, 2007

 Mission Statement
The Beach Theatre Foundation, Inc. is a not-for-profit organization formed to
preserve and restore the historically authenticated Beach Theatre in Cape May,
New Jersey and utilize the complex as a state-of-the-art showcase for cinema
and the arts.

Excellence in a diverse array of films will be the hallmark of the theatre for the
cultural benefit of the residents of Cape May, Southern New Jersey and visitors
from around the world.

The foundation’s visionary goal is to establish the Beach Theatre and Cape May
as an internationally recognized center for film history, film preservation &
restoration, independent filmmaking and film education.
Other saved theatres.
The Levoy Theatre History 06/17/2007 12:13 PM

Updated: 10/20/2006 2:20 PM

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The Levoy Theatre

P.O. Box 678
126 - 130 N. High Street
Millville, NJ 08332
Office Phone: 856- 327- 9870
Fax: 856- 327- 4076

Last modified THE LEVOY HISTORY

October 20, 2006

Questions comments or problems The story of the Levoy is the story of the people who built it,
with the website? owned it, worked in it and patronized it. It is a story filled
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with triumph and defeat, happiness and sadness. It is exactly
the story you might expect from a 100 year-old-icon.

The Story Begins >

Levoy Theatre - Milville, NJ

 Saved theatres.
Other theatres designed by W.H. Lee that have been saved & restored.

Majestic Theatre - Gettysburg State Theatre - Easton Hiway Theatre - Jenkintown

West Shore Theatre - New Cumberland

Bryn Mawr Theatre - Bryn Mawr
Miracle Theatre - Coral Gables, FL
 Agenda
• Timeline of future events

• Theatre Lease/Option review

• Business plan
• Revenue sourcing

• Revenue/Expense summary

• Employment opportunities

• Theatre usage/design

• Loan terms proposal

 Timeline
• June 2007

• Receipt of $100K loan

• Finalization of Frank Investments & BTF lease/option agreement

• Fund raising events

• July - Sept 2007

• Solicitation of RFPs from developers for entire complex

• Preliminary architectural plans investigated

• Continuation of fund raising events (Movie Trivia, Cocktail Party, Concert)

• Hire BTF Executive Director & Fund Raising Director

• October 2007

• Frank Investments one-year lease/option commences

• Theatre cleaning & painting

 Timeline
• November 2007

• Theatre re-opens under BTF mgmt with NJ State Film Festival

• December 2007 - May 2008

• Review of developer proposals

• May 2008

• BTF re-opens with full-time schedule (4+ full-time, low to moderate income employees hired)

• October 2008

• Finalization of new owner

• November 2008

• Theatre renovation commences

• June 2009

• Theatre re-opening grand premiere

 Lease/Option Review
• Currently finalizing agreement with Frank
Investments

• One year theatre lease commences Oct. 1st

• Option-to-purchase gives us right (assignable) to

purchase entire complex within term of lease

• Agreement has extension provision

• Lease/option cost: $100K

 Revenue Sourcing
• Revenue will come from
the following sources:
• Donations ($25K in bank
now, $25K pledged)
• Theatre rentals

• Fund raising events

• Sponsorships

• Grants
• Theatre seat sales

• Theatre tickets
• BTF logo items

• Theatre concessions
• Advertising
 Revenue Sources
Each Cinema is
Corporately Sponsored
Cinema I - Independent Film
Cinema II - Foreign Film
Cinema III - Retro Classics
Cinema IV - Animation

Each theatre chair can be sponsored

Exterior bench sponsorships

Walk of Fame sponsorship on sidewalk

Revenue/Expense
Summary

2007 2008
Revenue $406,660 $1,133,400
Expense $348,325 $1,129,987
Net $58,335 $3,413
 Employment
Opportunities
• Foundation Personnel

• Executive Director

• Fund Raising Director

• Administration Assistants (2)

• Theatre Mgmt Personnel

• Theatre Manager

• Projectionists (2)

• Ushers/Box Office/Concession/Store staff (10)

 Theatre Usage

• On-going “art cinema” programming

• Festival use (NJ Film Fest, Music, Jazz, etc.)
• Theatre rentals (hotels, corporate, private)
• City of Cape May use (Candidates Night,
Town Meetings)
 Theatre Redesign
• Brought back to the original
seat configuration

• Rocker hi-back seating with

cup holders

• State-of-the-art 35MM, 16MM

and HD digital projection

• Dolby Digital THX Certified

Surround Sound Audio Theatre
(would be only one in South
Jersey)

• Ability to view satellite HD

broadcasts

• Hearing & Visually Impaired

Access
 Proposed Loan Terms
• $100,000 loan
• Interest rate at 2% (historical rate)

• Monthly re-payments to begin 24 months

after receipt of check
• 10 year loan ($920.13 per month payments commence 6/20/09)

• Cape May will be in “first creditor” position

BTF Board of Trustees

• Jerry Gaffney • Harley Shuler

• Bernie Haas • Barbara Skinner

• Steve Jackson • Shirley Stiles

• Bruce Minnix • Susan Tischler

• Ray Roberts
 What if?
• What if Frank’s Investments demolishes the
building and builds condos? What happens to
the BTF and the donations, loans, etc.?
• The BTF is charted to provide Cape May with a
cinema & arts complex. The BTF will seek to acquire a
building or construct a theatre from the ground up.

• Cape May will have a Beach Theatre. Hopefully, the

current one. The Beach Theatre will live on.
 Thank you.

2007WEB