CENTRAL CITY – The Central City Council convened on November 19, 2024, for a work session focused on the 2025 budget and the ongoing restoration of the historic Belvidere Theatre. 

The session began with a viewing of a CBS News feature on the Belvidere Theatre, which aired on September 25, 2024. The feature described the restoration efforts and the Theatre’s importance as a historic and cultural landmark. 

Following the video, members of the Belvidere Theatre Foundation, including Peter Droege, Corey Marshall, Barbara Thielemann, Kathy Walker, and Eric Chinn, presented updates on their progress.

Droege shared that the foundation has raised $3.5 million of its $9 million goal, leaving $5.5 million still needed. The group aims to complete the project in time for Colorado’s 150th anniversary in 2026.

Chinn announced that the ground floor of the Belvidere will become a coffee shop. And when the elevator is installed, the second floor will be a speakeasy.

Thielemann said the iconic space will be used for events like weddings and that it will increase community engagement. 

Fundraising efforts have included tax credits, grants, and support from the City. The Foundation expressed gratitude for the City’s financial backing, and stressed its ongoing partnership with local organizations to ensure the Theatre’s future success.

City Manager Daniel Miera provided an overview of the 2025 budget, including projected fund balances and key expenditures. The Historic Preservation Fund is expected to end 2025 with a balance of $583,382. 

While no specific funds are currently allocated to the Belvidere, Miera mentioned the potential to use some of the balance for critical improvements like an elevator, or other elements that were postponed due to budget constraints.

The general fund will see a $671,000 shortfall, which will be covered by the existing fund balance. 

Other topics included the City’s continued coverage of residential trash collection costs, estimated at $26–$30 per household per month if shifted to residents. The council also discussed the Public Property Development Trust Fund, which could potentially support public facilities like the Belvidere.

Residents and council members raised thoughtful questions throughout the session. Some discussed the importance of creating a robust marketing plan to draw visitors to the Theatre once it's completed, while others sought clarity on projected revenues and potential grant opportunities.

The council agreed to hold an additional work session before Thanksgiving to refine the budget and address unresolved funding priorities.