South Boston, VA - The Prizery in South Boston is getting a much needed financial boost.
The Halifax County Board of Supervisors voted to loan the entertainment venue $60,000 to be paid back next year. The Prizery has been having financial troubles and was in danger of closing.
Halifax County Supervisor Barry Bank says it's a win-win situation.
"This was a way to get the Prizery what it needed, not have the tax payer to pay for it, and I think the board came together and made an excellent decision," Bank said.
"The economy has been tough on everybody and as you know, when people lose disposable income some of the first things to go are entertainment," said Prizery Executive Board Member Matt Leonard.
Leonard says this loan, along with a 60 thousand dollar grant from the South Boston Town Council, will relieve some of the financial strain the venue has faced.
"It allows us to set that aside out of our operating budget, so that we can then use the revenues that we generate towards operating and aim specifically at the mission of The Prizery. It just really helps us, gives us the breathing room that we need," Leonard said.
Both the Prizery Board and Halifax County Supervisors understand the importance of having arts spaces in the community.
They hope this will be just the boost the $6 million venue needs to continue to thrive in the Southside.
"It adds a dimension...it adds a facet to our community that is unique in Southside Virginia. When we're trying to attract new business and industry, when we're trying to make the quality of life better for the people we have here, this is a place that helps us do that," Leonard said.
The loan is set to be paid back to Halifax County in September 2013.