Let's not reinvent the wheel when it comes to the Terrace Theater. What the building needs is experience in the film and theater industry in order to thrive.
1. Renovation is going to be an expensive.
2. Running a movie theater is very hard work.
This is where Alamo Drafthouse Cinema comes in. They have locations across the country and are growing. They have experience with exactly what we are trying to accomplish—a community and cultural hub that will attract people from all over the Twin Cities. And what a better way to win the hearts and minds of a community than by reviving a beloved theater?
Take time to check out the Alamo Drafthouse Cinema About page. They are the real deal. http://drafthouse.com/about/history/
I believe the smartest use our time would be to pitch the theater to ADC as a potential introduction to the Twin Cities area.