This is what I posted on fb in response to another poster and this situation
I wouldn't say that I've worked with the “group”. I think it was 1979 when I first worked with Tim. We were friends for a long time, but I really don't think that friendship or loyalty mean a thing to him. It is a shame that he didn't have the guts to be up front with me about his reneging on our agreement being so that he could do it with his “partner”.
I didn't really know Katie well at all before moving here. She wasn't at the Majestic working with my family during the several months of hard work needed since the theatre was not even close to being in any condition to be opened. Really, we hardly ever even saw her during our years of continually working hard on the falling apart building, except for when Tim came to visit. They seemed to be very close.
Yes, I was aware of some of the Will Rogers story. I'm pretty sure that building is in Katie's name. Maybe she can turn the tables on him and demand a lot of money or kick him out of there, lol. Maybe after he started tearing into that place and it was flooded with something like 300,000 gallons from the broken water line in the building with no heat, he decided to wash his hands of that project.
Yes, I am aware she has been asking for donations from the public down there too. It seems as though she sees no limit to asking for charity to fund for-profit businesses. I contacted her to get pictures of a theatre that she has absolutely nothing to do with taken off one of her charity sites. What kind of nerve does that take? After being kicked out of the boarded up Majestic she is still asking here. I wonder what the people of Charleston who have donated are thinking of their boarded up palace and what is happening in Streator.
I just really can't believe that after witnessing the way he did us and being a real estate “something”, that she would not make sure that she had a lease for the place, particularly before asking the public for huge amounts of money.
Yes, I am aware of their Stone Soup Entertainment,Corporation, that was doing business as “The Majestic”. I believe that Katie and Jim are officers as well, but what difference does any of that make? It seems to me like it is just a worthless corporation. Unless it actually owns some assets, without even having a lease on a building, does it have any value?
Even if the corporation were being valued to be included in the sale, what does past revenues have to do with anything? Are you aware of the excessive film rental costs to take care of those over paid studio people? Are you very familiar with the cost of heating and cooling a 100 year old building with almost no insulation and so much mortar missing that you can feel the wind blow through the walls? That fly box with the big cracks in the roof joists, also had many places where you could see outside without windows. If it cost more than $210,000 to generate that revenue, is it really something to value a sale off of?
I took from what Katie said in her posts, that Tim wants the $128,000 mortgage paid plus another $120,000 for the building. Where did the $150,000 number come from, is that a professional appraisal of the building?
Then there are the questions of the digital projectors. Are they included in that appraisal? Century 21 says that there are included in the sale and Katie says that they are not his. From what I saw the money was being asked for to save the Majestic. I could see how Tim could think that means the building, but I could also see how others could see it to mean the corporation that has been doing business as “The Majestic”
Wasn't about 90% of the money donated by Mr. Endres? Wasn't he working with Katie and made the donation to keep the theatre open? I thought that his intentions were to make it a gift for the entire community, not for one individual's gain and to close the place down. Now that Tim has closed it up, I would think that donors would have grounds to take legal action against him.
When Katie informed Tim of the donation and he started freaking out, I would think that Katie would have made sure that everything was worked out before having the equipment installed. I heard that Tim pulled one of his freak out rants on Mr. Endres as well(freaking out seems to be his forte). Maybe Mr. Endres should get involved now to clarify who the money was given to.
If the $130,000 donations were given to a worthless corporation with no lease, maybe the equipment should be sold and the money returned to the donors. Whoever the end recipient of the donation is should be responsible for paying taxes on the revenue too, in my opinion.
As far as “historical” and “original”, I don't think so. He's changed out equipment several times, upgraded to digital sound, and never expressed a desire to me to make it historical.
It is a shame that Tim didn't talk to the press for the article, I doubt that he wanted to answer any questions to anyone. I agree that it is interesting that our City leaders give out legal advice and get involved in a civil matter such as this. Is that the role a city government should be in? Doesn't that put liability on taxpayers?
Even with the digital projectors, I really think that he has way over-valued the place. The building is falling apart so bad that I see it as more of a liability than an asset. Knowing the expenses of the place, I really don't see how it could be profitable as a movie theatre.
How much do you think that huge marquee canopy weighs? Have you noticed the big cracks in the front wall where its supports are? I doubt that Tim did anything about the severely rusted structural members of the Majestic tower. Did you see how the city made a good condition sign off the Murray building? Instead of adding to a $267,000 value to the building, I see that sign as a huge liability.
I think the theatre is done now. I doubt that Tim will lower the price anytime soon, know that Katie wants it. I really don't think anyone will pay anywhere near the amount he is asking for a vacant building, it is just too ridiculous. I wonder if he knows about the City's vacant building ordinance. Katie referred to the Mayor as doc Lansford, seems they have known each other pretty well. I know how vindictive the City of Streator can be. I wonder if he is ready for the $500 inspection and the possibility of $750/day, with each day being a separate occurrence fines.
Since it seems this is all over digital projectors that Tim didn't want and kicked the corporation out over, he should be giving them back, right?
It is a sad situation for sure. Good bye Majestic, RIP.