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Big Donation Bails Out The Coconut Grove Playhouse

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Aug 16, 2007 8:18 am US/Eastern

Big Donation Bails Out The Coconut Grove Playhouse

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COCONUT GROVE (CBS4) ― The show will go on at the Coconut Grove Playhouse.

The financially embattled theater avoided foreclosure by repaying a $350-thousand loan it took out 3 years ago.

Playhouse officials said they were able to pay off the loan and associated fees after receiving a donation on nearly half a million dollars.

Our news partners at the Miami Herald report if donation had not come through they would have been forced to sell off a part of Playhouse property Wednesday at a foreclosure auction to repay their debt.

((© 2006 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.
CBS4 news partner The Miami Herald contributed material for this repo)

© MMIX, CBS Television Stations Inc. All Rights Reserved.