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Groups offer to help theater with mortgage

January 24, 1997

Two financial groups with local ties offered Friday to help Maryland Theatre officials with the $130,000 final mortgage payment due in late May, said Acting Director and Board President Patricia Wolford.

Wolford said she would negotiate with the two groups to get the best deal for the theater.

She would not disclose the identity of the two financial groups, but said one was a credit union.

The group of banks holding the theater's mortgage refused to refinance the final payment, Wolford has said. Farmers & Merchants Bank and Trust is the lead bank for the group holding the mortgage.

The original $250,000 mortgage was taken out in 1994 when the theater was in the midst of a funding crisis.

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