With time winding down toward a Sept. 29 trial to determine whether deed covenants can stop the pending sale of the bankrupt August Wilson Center for African American Culture to hotel developer 980 Liberty Partners, several community groups have rallied in support of an alternate bid proposal made by a consortium of local foundations.
On Sept. 22, Black Political Empowerment Project Chair and CEO Tim Stevens announced outside the Center that his organization supports the $7.2 million bid put forth by the foundations rather than the $9.5 million top bid from 980 that was tentatively approved by bankruptcy Judge Lawrence O’Toole.
Stevens echoed points made in multiple op-ed letters by Heinz Endowments President and CEO Grant Oliphant, saying that the 980 plan would preserve only 40-45 percent of the structure as an African-American arts and culture center and that the foundations’ plan presents the “best opportunity to fulfill its original mission and to do so utilizing the entire facility as it was meant to be used.”
He also agreed with the foundations’ opinion that, though their lesser bid is not enough to repay the $7.9 million mortgage held by Dollar Bank let alone additional creditors, the bank should write off its losses as a community contribution.
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