The theater's old facility on Magnolia Boulevard had to be torn down after suffering major damage in the 1994 Northridge earthquake. The CRA has already provided $1.2 million in loans and grants for a new facility, which opened on Lankershim Boulevard earlier this year.
The additional $400,000 will be used to help pay off the balance of the theater's mortgage and to make some improvements, including the installation of new lighting. Though some critics say the project is a waste of taxpayer money, others claim the theater is needed if North Hollywood is to enjoy the same type of renaissance currently enjoyed by Hollywood and West Hollywood.
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