The Miami City Commission is proposing to transfer ownership of the Olympia Theater to the Sports Leadership Arts Management charter school. In return, the school would restore the aging structure while becoming financially responsible for repairs, despite the nominal sale price of $10. The project aims to meet historic preservation standards. City Manager Art Noriega advocates for the proposal, stating it could be a significant opportunity for the city. However, community members express concerns about the urgency and remaining details of the arrangement.
The proposal to turn over the 1926 Olympia Theater to the SLAM school involves the school restoring the theater, with the city having zero financial obligations.
The official purchase price is set at $10, but the charter school has to invest tens of millions into the restoration of the Olympia Theater.
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