This year, the Board of Trustees for Colonel Drake Cultural Alliance, Inc. (CDCA) announced the completion of its construction fund raising efforts for the Lyric Theatre Rehabilitation Project with a $40,000 grant from the County of Venango.
This completes the match portion of the State $925,000 RACP grant. The balance of the match funds came from an Appalachian Regional Commission Grant for $500,000, several local foundations, Karma Concerts and generous donations from local businesses and individuals.
CDCA also received a Pennsylvania State Local Share Account Grant of $200,000 which is not eligible to be used as part of match funds. The construction portion of the 2.3-million-dollar project is estimated at approximately 2 million dollars. There continues to be ongoing soft costs as the CDCA approaches the construction phase and begins to operate.
The CDCA would like to thank those who already donated to this project, and many have, for their generosity!
For those who have been thinking about donating, now is the time as CDCA needs any added financial help they can receive as they prepare to release their bid package and get on the 2025 construction schedule.
Checks can be made out to CDCA and mailed to CDCA, PO Box 1145, Oil City, PA 16301 or, for those who prefer to contribute online with a credit card, they can make a donation to the fund with Bridge Builders Community Foundation by using the following link: bbcf.fcsuite.com/erp/donate/create/fund?funit_id=2255
Other items of note through this year:
• Initiation of negotiations for a “bridge loan” that will be paid off as each significant part of the construction is completed, verified and reimbursement from the grants is requested.
• Plan refinement included a full update of Mechanical/Electrical/Plumbing design for current code compliance and was completed by Peno Engineering of State College while the final architectural detail design continues.
• The very popular Karma Concert Series will continue in its seventh year on Thursday nights through the winter season.
• Volunteers continue to work to remediate, as much as possible, any further damage to the front of the building that will be almost completely replaced.
Those with questions or wishing to learn more can contact CDCA at info@lyrictheatreoilcity.org or visit their website at www.lyrictheatreoilcity.org.
