South Boston, VA - The loan is due, but the Prizery isn't ready to pay.
Leaders of the South Boston performing arts venue requested a $60,000 loan from Halifax County Supervisors to help relieve some financial strain.Prizery officials say they have the money, but it wouldn't be in their best interest to give up that much right now.
"The Prizery approached the board of supervisors a couple weeks ago with a letter requesting that instead of full payback, we work out some terms for payback, " said Prizery Executive Committee Member Matt Leonard.
In the letter, the committee asked the supervisors to forgive some or all of the loan. If not, the letter offered suggestions on possible payment options, including $10,000 a year over the course of six years.
Supervisor Doug Bowman was in full support of working out a payment plan when the Prizery approached the board.
"Performing arts centers all over this country - no matter what, large and small communities - are struggling for sustainability, and we're no different," Bowman said.
Other county officials are not so sure.
County Administrator James Halasz says if the county doesn't get the full repayment of the loan this year, it might mean budget cuts in other areas.
"Just as a household operates, we have to operate the same way and balance our budget," said County Administrator James Halasz.
For now, supervisors have granted a 45 day extension to mull over the options. Ultimately, officials say they want a positive outcome for everyone.
"I believe the board understands we have a relationship with the Prizery. They do good things in the community that we want to support, and you have to look at things on a case by case basis, " Halasz said.