BEDFORD, N.Y. -- The group seeking to convert the Bedford Playhouse's shuttered movie theater into a non-profit arts center has crossed the $1 million mark in pledges for its fundraising effort to pay for the renovation work.
As of Monday, Feb. 9, Friends of Bedford Playhouse states that it has $1.2 million in pledges.
"Congratulations and Thank You to the 200+ friends who pledged a gift!" the group announced on its Facebook page.
The group also announced that it achieved another significant milestone: raising enough money to, in turn, get a $300,000 match grant from the Thompson Family Foundation, which already pledged $200,000. In order to receive the grant, the group had to get $300,000 worth of pledged funds.
The theater space, which is in downtown Bedford Village, closed in January.
The group is seeking to raise $2.5 million by March 1. The proceeds would pay for the conversion of the theater's current twin-screen configuration to one that would feature a large-screen space with about 280 seats and a small-screen area with around 90 seats. New equipment, such as digital projectors, would also be paid for.
However, the deadline is not an "all-or-nothing" limit. The group also announced that it will proceed with the project in stages if it can get roughly two thirds of the total amount, which is at least $1.5 million, by the deadline. Under this revised timeline, work would be done on the large-screen space first.
John Farr, who is founder and chairman of the group, disclosed the possibility of a phase-in scenario at a talk on Wednesday, Feb. 4, at the Katonah Village Library when he fielded questions from members of the public. At the gathering, which was attended by dozens, Farr also gave an overview of his proposal.
The group accepts pledges through its website, here.
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