September 13, 2013 (Friday the 13th) – was the start of our plan to save the Burbank Theater in San Jose, we toured the building and quickly drew up paperwork to locate our Creative and Performing Arts company in the upstairs unit, with plans to expand into the rest of the building, and bring the arts back to this old Theater! Monday September 16, 2013 – monies were exchanged… and it’s been nothing but delays, broken promises and hard-ache ever since.
The current owners were all too happy to negotiate us into a very large pre-payment of the leasing agreement – and then have done less than nothing ever since, they didn’t even pay the mortgage!! (overdue now since December 2013) Official foreclosure proceedings against the current owners started in late July 2014, the 90 day grace period expired the start of October 2014 – now the final phase of Foreclosure – Public Auction can be scheduled at anytime.
The 1st mortgage far exceeds the worth of the Building (using current Commercial Building valuations), so will this upside down building actually sell? Will the new owner flatten it (even though the community views it as a landmark)? Will we have more condos and townhouses in an ocean of unending suburbia that is Silicon Valley? Will we have yet another ultra modern glass high rise? Or will the bank be unable to sell it at all and it will just be fenced up, boarded up and sit for who knows how long?
Mariposa Productions LLC and Studio Sharise – have decided to make a stand, we hope you will help us save this Historic Building – but also help turn it back into an Art House, where community events, live music, comedy/improv, visual arts, and plenty of more things that are commonly missing in the Silicon Valley experience – can be brought back with a level of Style that will be remembered.
We hope Saving the Burbank Theater in San Jose, CA – sounds good to you – as it does to us.
We currently have several ways you can get involved:
Studio Sharise – the Creative and Performing Art division located in the upstairs unit of the Burbank Theater – is looking to expand their out-reach programs; these programs help pay volunteers for charity events or students who need help with tuition – your fully Tax Deductible Donations are sponsored by Fractured Atlas a large non-profit organization dedicated to bringing the Arts to anyone who is willing to try. So if you are interested more in helping those that have more special needs, please click on this link and receive a fully 501(c)3 non-profit deductible status for your donation.
Next, today the Burbank Theater does not qualify for standard Commercial Loans, so we are always looking for Private Investors who see our vision and want to partner with us. If you or people you know are looking to invest, we can provide competitive terms that will far exceed what you make in a Savings Account or Certificate of Deposit, contact Studio Sharise directly for more details.
EDIT: Special Thanks to everyone who contributed to our first Crowd Funding Campaign!! Held on Indiegogo. This is now closed, however if you wish to contribute (no tax deduction) you can do so here, any perks previously listed on Indiegogo will be honored, just use the Paypal form to Donate.