The Redevelopment Agency of Salt Lake City has taken a step toward revitalizing downtown by acquiring the old Utah Theater.
The RDA will buy the Main Street theater for $5.5 million from a developer. The purchase of the building is part of an effort to create a cultural district in downtown Salt Lake City.
RDA director DJ Baxter says the RDA board voted unanimously to purchase the facility on Wednesday. The sale will be final in early 2010.
Plans for the cultural district include increasing the number of art galleries, retail shops, performing arts centers and commercial space. A permanent use for the Utah Theater is not yet known and will be determined through a public process.
RDA money comes from tax increment financing on property taxes.