Broadway Theatre issue to get public hearing next month

The public will get the chance to weigh in at the Monday, May 1, Cape Girardeau City Council meeting on what happens to the building that once housed Broadway Theatre.

The building — which is currently condemned — has been slated for demolition for nearly a year, but plans have continually been delayed.

Council members voted six to one in favor of setting a public hearing to consider a rehabilitation plan for the historic downtown building. Councilman Robbie Guard was the sole vote against setting the hearing.

Guard explained his vote after the meeting. He said he "applauds" Brennon Todt, the developer who requested the public hearing, for his plan but struggles supporting the measure because of the lack of assurance the entire project will be completed, echoing comments he made at a previous council meeting.

"I believe 100% assurance that the entire property gets completed (renovated), is what any business partner would want if they were investing their own money, and it's even more so when it's taxpayer dollars," Guard said.

The hearing will be May 1. A final development agreement is expected to be prepared by and voted on at that meeting. Numerous speakers Monday, April 17, preempted the public hearing giving comments in favor — with one against — renovating the Broadway Theatre building.

The development plan submitted by Todt, owner of Todt Roofing Inc. — and attached to Monday's meeting agenda — outlines a potential agreement between Todt and the city for a multiyear, multimillion-dollar restoration plan for the historic building that the contractor presented before council members in March. At the March meeting, council members voted four to three in favor of directing city staff to explore options other than demolishing the building. Mayor Stacy Kinder and council members Shannon Truxel and Guard voted against the measure, citing, among many things, apprehension about whether Todt would be able to complete the project and whether to give city funding to a private developer for what Truxel characterized as private gain.

Under Todt's vision, over the course of three phases, the Broadway Theatre building would be transformed into various retail and residential spaces and have a small theater — maintaining the original purpose of the building.

The development plan lays out a potential 25-year tax abatement under Chapter 353 of Missouri statute — for municipality incentives for development in "blighted" areas. The majority of the abatement period would be contingent upon Todt fully completing each phase of the project.

Also attached was a funding letter from The Bank of Missouri stating Todt had guaranteed funds for the first phase of construction.

Todt said in his March presentation that his participation in the project is contingent upon the city funding stabilization efforts, around $125,000 to $150,000, he estimated. The city has solicited bids for demolition for $293,743 and $471,200, respectively. Those bids will expire the day after the next council meeting.

At the meeting, Stephen Hoffman, coordinator of the Southeast Missouri State University Historic Preservation Program, said Todt would "float" the money for stabilization costs. He would then be paid back by the city.

Stabilization costs were not outlined in the development plan, but city manager Kenneth Haskin confirmed they would be part of a finalized development agreement that would be submitted to council prior to the May 1 public hearing.

Broadway Theatre has been a fixture in downtown Cape Girardeau for more than 100 years. It's been listed on the Historic Preservation Commission's Endangered Buildings list since the list was first created in 2012.

The structure was in poor shape prior to a March 2021 fire that caused considerable damage to its facade, roof and structural integrity.

The city has had the building marked for demolition since last summer. Numerous repair orders were extended to allow time for the former theater to be restored in 2021 and 2022, but all lapsed without significant progress, prompting the city to move forward with demolition.