The city of Denver wants to ensure that ticket buyers are not burned if the Colorado Ballet can’t go on.
The Division of Theatres and Arenas is requiring the financially struggling Colorado Ballet to hold in reserve all ticket revenues related to future performances in the Ellie Caulkins Opera House and not use the money to pay for current expenses such as salaries.
“We didn’t want to run the risk that people who’ve bought a ticket for a show in our venue would not be able to get a refund if, for example, the ballet runs into more serious financial difficulties,” said Jack Finlaw, director of the Division of Theatres and Arenas.
The ticket-revenue reserve is part of a larger agreement reached last week between the city and ballet that allows the company four years to pay off $194,000 in rent and other fees it owes from 2009.
In addition, the ballet must pay a little under $100,000 in rent and other fees related to February’s production of “Beauty and the Beast” and the upcoming “3motions” by June 30. The company was already required to pay expenses for ushers and stage hands in advance for both shows.
“Based on that agreement, we’ve authorized them to advertise their season in the Ellie for 2010-11,” Finlaw said.
Kyle MacMillan
