updated: 7/5/2012 11:53:59 AM
A deal has been reached to keep a popular Indianapolis entertainment venue open. The Athenaeum Foundation and operators of The Rathskeller have agreed to save the Biergarten and allow concerts to continue at the outdoor location. The deal calls for the Biergarten to hold an annual fundraiser to help with foundation expenses. The foundation owns the location and holds the liquor license.
Our partners at Network Indiana/WIBC report both sides are dropping their lawsuits, pending final approval of the deal by lawyers.
The actions were filed last month after negotiations over a new lease broke down.
The foundation stated the Rathskellar has annual heating and cooling costs of more than $250,000 and is dealing with $6 million in deferred maintenance costs for the entire facility.
The operator of the Biergarten countered by the operation accounts for about half the foundation's rental revenue. He has pumped around $200,000 into renovations and donated $900,000 to the foundation since 1995.
Source: Network Indiana/WIBC