The Atascadero City Council passed a resolution in support of the local Galaxy Theatre and Colony Square businesses.
Since the pandemic hit, many businesses including restaurants and movie theaters had to shut down.
Other than a few private events, the Galaxy Theatre hasn't been open for business.
The closure has left the owner struggling to pay the mortgage, but city council members and other local leaders want to help the Galaxy Theatre get back on its feet.
Deputy City Manager Terrie Banish says the Galaxy Theatre is one of the most significant tenants in Colony Square and provides the largest portion of rental revenue for that portion of Colony Square.
Elected officials have weighed in on the issue and agreed to pass a resolution imploring the bank to halt foreclosures and give business a chance at a California small business grant.
“I know how important Galaxy Theatre and the Colony Square businesses have been to the economic growth and vitality of Atascadero’s downtown community," stated 5th District Supervisor Debbie Arnold. “At a time when many businesses are struggling through no fault of their own, we need all economic partners working together, including the banking community, to ensure an economic recovery in San Luis Obispo County.”
The resolution highlights the significance of this business and how the loss of the theater would cause negative impacts on other businesses and city revenue.
