Foundation Breaks off Negotiations to Purchase the Lorenzo Theatre
Friday, April 5, 2002
SAN LORENZO -- Following nearly a year of trying to reach an agreement to purchase the Lorenzo Theater, the Board of Directors of the Lorenzo Theater Foundation has withdrawn from negotiations and will focus on overseeing the restoration of the 55 year old Theater.
The Foundation has notified Dr. Dharam Salwan, owner of the Lorenzo, that its efforts to purchase the Theater from him are now terminated. The Foundation is returning to the goal it stated when it was formed in l999: advocates dedicated to the proper restoration of the Lorenzo and its renaissance as a center for visual and performing arts. This was the Foundation's goal until the opportunity arose to purchase the Theater from Dr. Salwan. Unfortunately for both parties, the deal did not work out.
Over time the Foundation has raised acquisition funds with the goal of leasing or purchasing the Lorenzo. A goal it hopes to be in a position to achieve at some future date.
These acquisition funds have been kept separate from the Foundation's operating funds and may be returned to donors if they wish. Send a letter, including the dollar amount of your donation, to the Lorenzo Theater Foundation, P.O. Box 193, San Lorenzo, CA 94580. The Foundation is a non-profit, with limited funds; please include a self-addressed stamped envelope with your request.
Direct questions or concerns to Nancy Shelvy (510) 317-6640 or email at Artdeco47@comcast.net