City Needs to Do the Right Thing

City Needs to Do the Right Thing

The performance agreement between the Wayne Theatre Alliance and Waynesboro’s Economic Development Authority was a part of the financial requirements of the state and national tax credit investors in the restoration of the Wayne Theatre. With the official March opening and the booking of major national performers, the Alliance met their end of the requirements of the agreement.

The agreements like the one between WTA and Waynesboro’s EDA are used by localities all over the country as incentives to economic investment. The agreements are based on trust as one city council cannot enter into an agreement that would bind a future city council. They are rarely defaulted on or canceled.

At press time, Waynesboro has not included the payment due under the agreement in their annual budget. Without the agreement and the trust implicit in the arrangement, the investment of millions of dollars in Waynesboro would not have happened. We trust the City will honor the agreement as we have based our future on that mutual trust. WTA waits for the City do the right thing and fulfill its obligation.

     

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