CLARKSBURG, W.Va. — A planned restoration of the former Robinson Grand Theater would cost taxpayers about $365,400 a year, citizens learned Tuesday evening.
The city of Clarksburg is applying for a $7.5 million loan with the U.S. Department of Agriculture, officials with the city and federal agency said during a public hearing at Clarksburg City Hall.
If approved, the loan is to be repaid over 35 years at 3.25 percent interest, the officials said.
“The application for funding was submitted to the USDA,” City Manager Martin Howe told a standing-room-only crowd.
The hearing was held as part of the loan application process with the Department of Agriculture, Howe said.
The Clarksburg Municipal Building Commission is applying for the loan because Clarksburg City Council can’t assume long-term debt.
But the building commission doesn’t have any money, meaning the city has to back all loans…