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$60,000 loan to Prizery repaid

Community Arts Center Foundation, Inc., operator of The Prizery, announced Friday they have repaid in full the loan made by the board of supervisors.  

The $60,000 loan was made to the foundation in September 2012 in conjunction with a grant of $60,000 from the Town of South Boston.  These funds were used to pay the balance of the interest obligations required by the New Markets Tax Credits  entered into in 2005. These tax credits were a part of the Phase II project to complete the renovations and opening the The Prizery to the public. 

“We are extremely grateful to the county for extending the loan to The Prizery,” said CACF Treasurer Wayne Stanfield.  “Without these funds from the town and the county, The Prizery would have closed for good at the end of 2012.” 

Stanfield went on to say that community arts facilities like The Prizery must have private and public support to survive, and part of that support must come from local government agencies. 

Barbara Speece, CACF president, said, “The Prizery is critical to the region as both an arts and entertainment facility, and it is also a vital part of the draw to the area for new businesses and their employees.   Since the facility opened in 2005, more than $1 million in tickets have been sold, and the facility has brought top notch talent from around the world to perform for the citizens of Halifax County.”

“The Prizery continues to provide the opportunity for arts education and entertainment to all the citizens of Halifax County.  In addition, the success of our professional Summer Theatre program is a growing arts attraction that brings people to Halifax County from the surrounding region and beyond,”  said Prizery Artistic Director Chris Jones.  

As part of the financial support for the operating budget of “The Prizery,” the board of directors will continue to seek donations from local supporters as well as grants and gifts from both the private and public sector.