Renovations at the Alex Theatre severely impacted attendance and income during the first fiscal quarter of the year, forcing the venue to drawn on reserves to cover operating expenses, officials reported Tuesday.
The theater reported a quarterly operating loss of $201,279, compared to a loss of $117,512 for the same period last year. Officials expected the slump because the theater was closed for most of the first quarter for façade renovations. But they said new downtown developments should ensure a steady stream of patrons in the coming years.
Total attendance for the quarter was 3,845 compared to 14,915 last year, when the theater had four times as many days of activities.
During the slump, Glendale Arts, the nonprofit group that runs the theater, had to draw from two reserve accounts required by a contract with the Redevelopment Agency that lays out the terms of a $415,000-annual subsidy, or management fee, according to the financial report.