Joliet Gives Rialto Another $500K For 2018

JOLIET, IL - In recent years, there was a growing sentiment around Joliet that it was time to close the curtain on the downtown's historic Rialto Square Theatre. Many suspected that Joliet's crown jewel had finally outlived its usefulness and was no longer viable. In December 2016, Joliet Patch reported that Joliet City Council member Brooke Hernandez Brewer pronounced the Rialto was "already closed." However, she and Larry Hug were in the minority in a 6-2 council vote that gave the Rialto $500,000 in city funds to help pay for operations in 2017.

Even with that funding, many people viewed the Rialto as being on the brink of shuttering its doors a year ago. News stories regularly referred to the Rialto as the "struggling theater." Last March, VenuWorks named Valerie Devine as executive director of the Rialto. This month, the Rialto began its second full year being managed by VenuWorks, a respected Midwestern entertainment managing group out of Ames, Iowa, that took over Rialto management in the middle of 2016.

VenuWorks continues to book more and more high quality shows for downtown Joliet. In response, crowds have been steady or sold out for many of the theater's major acts including Yanni, Olivia Newton John, Three Dog Night and most recently, comedian Dennis Miller on Jan. 11. The Jan. 12 REO Speedwagon concert that was rescheduled for March 8, is already sold out.

Last week, with little back and forth debate by the Joliet City Council, Joliet's elected officials approved another annual subsidy for the Rialto of $500,000 to help fund its operations during 2018. The vote was 7-1 with only Larry Hug voting against it. (These days, Brewer is no longer on the city council.)

However, the city's funding agreement includes a number of critical stipulations. Here are the key highlights, according to the city council resolution:

1. Joliet agrees to cut the Rialto a $250,000 check upfront.
2. The remaining $250,000 will be paid on July 1 as long as the Rialto adheres to the following conditions as outlined below:

• A minimum of 30 live entertainment performances have been booked or performed between Jan. 1, 2018 and June 30, 2018 excluding shows targeted to grade-school children who are bused to the Rialto for events held during dates when school is in session.
• Rialto officials must provide Joliet City Manager David Hales quarterly updates about securing a dedicated funding source from Will County government, the state of Illinois, and or other entities.
• Before July 1, the Rialto must provide Hales both a short term and long term capital plan for property maintenance and preservation of all properties owned or in the control of the Will County Metropolitan Exposition and Auditorium Authority, the board overseeing the Rialto.
• In the event the Rialto does not qualify for the second $250,000 payment, "the city may terminate this agreement..."
• The Rialto shall in a timely manner pay its payroll taxes for its 2017 audit.
• The Rialto shall not seek any additional funds from the city of Joliet for fiscal year 2018.

If you're thinking the Rialto is destined to fall short of those goals, you probably haven't been paying attention to the recent acts being booked.

Last Friday morning, the Rialto announced it booked The Temptations and The Four Tops for a concert on Friday, June 15. Then, over the lunch hour, the Rialto issued another press release, announcing Pat Benatar and Neil Geraldo will play the Rialto on Tuesday, April 3. The previous week, the Rialto booked a big country act, landing Dwight Yoakam for a Thursday, March 29 performance.

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Images via John Ferak, Joliet Patch Editor