$225,000 awarded for Bonham Theatre Project in Fairbury

The Nebraska Department of Economic Development (DED) has awarded the City of Fairbury with $225,000 in Community Development Block Grant (CDBG) funding in the Tourism Development category to renovate the Bonham Theatre.

In turn, the City will award the funding to the Bonham Theatre Project (BTP), a 501(c)(3) nonprofit association that has secured financial support and contributions from foundations, businesses, and local individuals.

Additional funding of $553,834 from BTP, including challenge grant awards from the Peter Kiewit Foundation and The Sherwood Foundation, and pledges supported by state tax credits awarded through DED’s Community Development Assistance Act, will complete the project.

Renovations will include removal of materials and architectural barriers that restrict mobility of and accessibility by elderly and persons with disabilities. Additional renovations will include the installation of ramps and handicap viewing platforms, easier access to the lobby, fire protection measures, plumbing, restrooms and electrical work.

The refurbishment and reopening of the Bonham Theatre is expected to attract regional audiences from southeast Nebraska and northern Kansas for quality activities, including movies, theater productions, art showings and educational workshops. Additionally BTP is expected to help anchor Fairbury’s historic and social appeal as it is surrounded by lodging properties, and dining and shopping venues, all within walking distance.

The theatre operated for 86 years from the day its doors opened in 1926 until it was shuttered at the end of 2012. For many years it lived up to its name “the Showcase of Southeast Nebraska.” However, when faced with the high costs of transitioning to digital projection in 2012, the owners made the difficult decision to close the theatre. Soon after, Fairbury citizens organized and formed BTP.

Federal funds are made available to DED from the U.S. Department of Housing and Urban Development’s CDBG program to assist with the development of businesses and communities throughout the state. Funding requests for the program are administered by DED and available to local governments with populations less than 50,000 and counties in Nebraska.

For information about the Fairbury project, contact Sharyl Preston, City Clerk, at 402-729-3906 or spreston@fairburyne.org

For information about CDBG Tourism Development funding, contact Steve Charleston at 800-426-6505, 402-471-3757, or steve.charleston@nebraska.gov.

Union Bank & Trust Donates $10,000 to Bonham Theatre Project

ubt-donationUnion Bank & Trust donated $10,000 to assist the revitalization efforts of the historic Bonham Theatre.  The funds, which will be disbursed over a 2 year period, will help the non-profit group reach their fundraising milestone to begin renovations.

“Fairbury has a rich history, and the Bonham Theatre is a key part of that” said Jen Walton, Branch Manager.  “With the support of the entire community, the Theatre can once again be an active part of Fairbury’s downtown area.”

Debby Ebke, Treasurer of the Bonham Theatre Project, stated, “We’re very encouraged by the support of Union Bank & Trust, and all of our area businesses.  By coming together, we are truly a stronger community.”

Union Bank & Trust Company is a privately owned, Nebraska bank that offers complete banking, lending, investment and trust services. The bank has thirty-six full service and loan production offices in Nebraska and Kansas. In addition to Fairbury and Lincoln, branches are located in nineteen Nebraska communities and the Kansas City metro area. It is the third largest privately-owned bank in Nebraska with bank assets of $2.8 billion and trust assets of $13.9 billion as of June 30, 2014.

Westin Packaged Meats Donates $5K To Bonham Theatre Project

Westin Packaged Meats of Fairbury announced this week that it will donate $5,000 to the Bonham Theatre Project (BTP) as part of their ongoing commitment to the project. Westin Packaged Meats is a subsidiary of Westin Foods, an industry leader in the production of bacon bits, with two plants located in Fairbury.  According to Ron Schacht, Fairbury Operations General Manager, “We want to see the Bonham Theatre Project successfully complete the renovations of the theatre so that the citizens of Fairbury will once again be able to enjoy movies here.”

Westin Packaged Meats Donates $5K To Bonham Theatre ProjectSince April, the Bonham Theatre Project has been active in securing matching grant monies from various sources including The Sherwood Foundation ($50,000). According to BTP treasurer Debby Ebke, “We have contributions and fundraising dollars since The Sherwood Foundation match began on April 17th totaling $21,173. Therefore, we still need $28,827 to earn those matching funds.”  She added,  “Donations of $1,000 or more have a triple benefit beyond helping the Bonham Theatre Project.  They are tax deductible, they are matched by The Sherwood Foundation, and they earn the donor a 40% Nebraska income tax credit.”

According to BTP president Brooke Schwab, now is a great time to donate to the Bonham Theatre Project. “A set of plans has been finalized that will return the theatre to its former glory and donating to this project will not only benefit the donor financially, but contribute positively to the quality of life in our community, long into the future.”

The mission of the Bonham Theatre Project is to rehabilitate and reopen the historic Bonham Theatre as an arts and entertainment venue in downtown Fairbury. For more information log on to www.BonhamTheatreProject.org or on  Facebook at www.Facebook.com/BonhamTheatreProject.

Bonham Theatre Project Announces Donor Tax Credit

For the Bonham Theatre Project, good news arrived recently with two significant monetary plans, which will help generate fundraising momentum to renovate the historic Bonham Theatre in downtown Fairbury.

Bonham Theatre Project has received approval from the Nebraska Department of Economic Development  (DED) for qualification of the renovation of the Bonham Theatre under the Community Development Assistance Act (CDAA).  CDAA empowers DED to distribute a 40 percent (40%) state income tax credit to businesses or individuals who make eligible contributions to approved community betterment projects.

Bonham Theatre Project gathered pledges during the month of April to demonstrate community commitment to DED.  Fulfilled pledges will generate the tax credit, as will new contributions.

WHO CAN RECEIVE TAX CREDITS FROM BONHAM THEATRE PROJECT?
Any person or business that donates $1,000 or more is eligible for the credit.  For 2014 only cash and commodity donations will qualify.

WHAT IS THE LIMIT?
The minimum donation is $1,000 and the maximum is $62,500.  The credits will be allocated by Bonham Theatre Project on a first-come, first-served basis until the $25,000 income tax credit limit is reached.  Bonham Theatre Project can apply to DED for additional credits if significant interest warrants.

Examples:
$1,000 donation X 40% = $400 state income tax credit
$5,000 donation X 40% = $2,000 state income tax credit
$10,000 donation X 40% = $4,000 state income tax credit

HOW DO I RECEIVE MY TAX CREDITS?
After making an eligible contribution to Bonham Theatre Project the business or individual must complete and submit Form CDAA1 to DED, along with proof of the contribution.  DED will then send the contributor copies of the completed Form 1099NTC to be attached to the contributor’s state income tax return.  Bonham Theatre Project will assist in providing the needs forms to file.

HOW LONG DO I HAVE TO CLAIM A CREDIT?
The credit must be claimed on the income tax return for the year in which the contribution is made.  Any tax credit balance may be carried over and applied against the tax liability for the next five years immediately succeeding the tax year in which the credit was first properly claimed and allowed.

QUESTIONS?
Please contact Debby Ebke, Treasurer at 402-446-7436, 402-300-7146 (cell), or debbyebke@gmail.com

Additionally, Bonham Theatre Project has also been awarded a $50,000 challenge grant by The Sherwood Foundation to address fire, life safety, and ADA requirements.  The Sherwood Foundation will match the next $50,000 raised by Bonham Theatre Project with a contribution of $50,000.

“These two developments are exciting news for Bonham Theatre Project,” said treasurer Debby Ebke.  “Each $1,000 contributed to Bonham Theatre Project will qualify the donor for state income tax credit in addition to generating a matching contribution. For example: a $1,000 donation will not only yield the donor a state tax credit of $400, but it will be matched for a combined $2,000 benefit to Bonham Theatre Project – a win-win scenario for all.  Bonham Theatre Project is very grateful for the support of DED and The Sherwood Foundation”

– See more at: http://www.fairbury.com/pages/entertainment/bonham.html#sthash.0fmohW7G.dpuf