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Austin360 blogs > Austin Arts: Seeing Things > Archives > 2007 > December > 12 > Entry
Paramount nets $1 million gift
The Paramount Theatre has received the largest gift in its 92-year history — a $1 million grant from the Neil and Elaine Griffin Foundation.
The grant will be used for ongoing preservation efforts of the historic Paramount Theatre, according to Ken Stein, executive director of the Austin Theatre Alliance, which operates the Paramount and State theaters.
The grant from the Griffin Foundation is earmarked to help the historic 1915 1200-seat Paramount Theatre and also pave the way for future remodeling of the 1930s 300-seat State Theatre which has been closed since 2006 when a flood caused by a city water main break caused about $400,000 in damage to significant portions of the stage, backstage and seating areas. Because of the closure, the Austin Theatre Alliance was forced to lay off several staff members charged with producing original shows at the State.
Stein said that stablizing the maintenance of the Paramount will allow the organization to plan for a more thorough understanding of what a total restoration plan for both theaters would look like and cost.
Because of an agreement made with the City of Austin in the 1990s, which provided $1.8 million in municipal bond money for renovations, the State Theatre must retain its function as a theater or its ownership will revert to the city. The agreement also stipulates that the venue make 30 percent of its calendar available to other arts organizations at reduced or no cost. Among the groups that had to relocate their shows for the 2006-07 season were Kathy Dunn Hamrick Dance Company, Tapestry Dance Company and ProArts Collective.
Half of the grant from the Griffin Foundation must be matched with other private donations within two years, which Stein is planning to make part of a larger endowment effort. The theater also wants to expand its education and outreach efforts.
The Neil and Elaine Griffin Foundation had given previous, smaller gifts to the organization largely due to Neil’s son, Richard Griffin who served on the board in 2005. The younger Griffin was instrumental in securing this latest gift.
“This gift will allow us to assess the big picture for restoring the Paramount,” Stein said. “Instead of fixing the roof one year and the air conditioning the next, we’ll be able to bring in restoration experts and architects to create a plan for ensuring the theater will be here forever.”
The foundation’s gift was inspired by Richard Griffin’s admiration of the Paramoun’s space as well as its staff. He and his wife, Amy, became subscribers to the Paramount shortly after moving to Austin from Kerrville.
“I hope this gift will serve as a catalyst for larger gifts to this worthy organization. An old theater like this cannot be replaced and Austin would be a less desirable city without it,”said Richard. “Amy and I wanted the theater’s staff to know that we believed in their work and wanted to give them an opportunity to take their efforts to the next level.”
“I met Richard and Amy at the theater almost four years ago,” Stein said. “Richard let me know that he loved old buildings and in particular this theater. After Richard left the board, he and Amy stayed involved by joining the Century Club, which is a group of donors helping to prepare the Paramount for its 100th anniversary in 2015.”
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By Ken Stein
December 12, 2007 3:17 PM | Link to this
This is actually great news for both theatres. Before this gift we were simply trying to stretch our small insurance settlement at the State to cover much more than issues caused by the flooding. Now we have the ability to address all of the issues with both spaces. The State might not ever have the historic value of the Paramount, but with a little work it certainly can be just as treasured as a performing arts venue. This is a very exciting opportunity for us and we certainly plan on making the most of it!