On Wednesday, members of the nonprofit group Undiscovered Earth made one final effort to reach potential donors with hopes of raising the money needed to purchase the iconic Chief Theater.
“We do believe in miracles, but they don’t happen as often as we would like,” said Dagny McKinley, executive director of Undiscovered Earth. “I would say we’re not that confident, but there could be a person who hasn’t stepped forward that might want to step forward. But as it as it stands right now, we just don’t have the funds to confidently move forward — so we feel like it’s time to step back.”
Undiscovered Earth has secured $800,000 in cash donations and pledges to purchase the Chief Theater for the community, but has not been unable to raise the remaining $1.4 million needed to secure the theater within the sellers’ time frame without acquiring loans.
She added that the group has asked the owners of the Chief to hang on with them as they work to raise funds, but understands they can only do so for so long.
“At this point, we are exploring every opportunity for funding and partnerships that would help us with a cash offer to present on Friday,” McKinley said. “The owners currently have a strong offer from the group from Aspen that viewed the building in December.”
Jim Cook, a board member with Undiscovered Earth, was on the phone all throughout Wednesday, reaching out to people that might be able to help the local group purchase the property.
“We did not want to take on any debt to purchase the property because we’re going to have to make substantial improvements to the property and that would be additional fundraising,” Cook said. “We’re terribly disappointed that we were not able to raise the money to protect this landmark. So it ain’t over ’til it’s over, and we were all making phone calls this afternoon, quite honestly.”
Undiscovered Earth has been trying to raise the money to purchase the Chief Theater since December, and has faced at least one other deadline in March during the process. If the group is able to purchase the property, the plan would be to develop a venue that could help organizations in the community with an affordable space to perform and rehearse, and to maintain the heritage of the historic — and perhaps most iconic — downtown building in Steamboat Springs. It would also provide a flexible space for groups that do not have their own venue.
McKinley addressed the expected $12 million cost of renovations, and Undiscovered Earth’s plans if they were purchase the property.
“Our plans are not set in stone and can be modified,” McKinley said. “This is merely the first step in the planning process. If we find a way to purchase the Chief Theater, our next step would be to provide a series of community outreach meetings to find out what the users of the space, the audience and donors want to see for the community.”
She understands that Undiscovered Earth is a new organization, and that people want the group to prove itself before investing in the project. While the organization is new, McKinley has confidence in its leadership.
“The board and staff have put in countless hours to make this happen,” McKinley said. “While we see this endeavor as a lost opportunity to keep the Chief in local hands, there is not a single person at Undiscovered Earth who regrets our efforts for a single moment because if we hadn’t tried, we never would have had a chance of succeeding.”
McKinley said those that donated to the purchase of the Chief will have the option to get their donation back. They may also donate to the group’s long-term goal of finding another performing arts venue in Steamboat Springs, or creating a new one altogether.
“We have learned a lot through this process, and we are not giving up on finding or building a performing arts center that lets community symphony, opera, dance and theater thrive,” McKinley said. “The voice of this community is loud, and we want to hear what you think.”
John F. Russell is the business reporter at the Steamboat Pilot & Today. To reach him, call 970-871-4209, email [email protected] or follow him on Twitter @Framp1966.
