Notice to Proceed Issued, Construction to Begin March 1: City of Clarksburg Executes Contractual Agreement with March-Westin for Robinson Grand Performing Arts Center
Earlier today The City of Clarksburg signed and closed on the Bond Anticipation Notes (BANs) for the Robinson Grand Performing Arts Center at Steptoe and Johnson Law Firm. The 3 year, 15.3 million dollar loan was provided by MVB Bank. The placement agent was Piper Jaffray & Co. and their placement agent council Spilman Thomas & Battle, PLLC. The trustee of the funds will be provided by WesBanco Bank. The City was represented by Steptoe and Johnson as Bond Counsel.
At closing, the City also executed the lease with the Clarksburg Development Authority (CDA). This enables the CDA to receive the various state and historical tax credits as well as becoming eligible for New Market Tax Credits. See original story here: http://cityofclarksburgwv.com/econ-dev-home/projectsandupdates/723-clarksburg-development-authority-unanimously-approves-agreements-for-robinson-grand-performing-arts-center
In late afternoon, City officials executed the contractual agreement with construction firm March-Westin Company, Inc as well as provided a Notice To Proceed.
The Robinson Grand opened in 1913 and a century later the City of Clarksburg is preserving a historical building by bringing it back to life.
For more on the Robinson Grand Performing Arts Center, visit www.TheRobinsonGrand.com