Jay and Nancy Ricker, who recently sold their gas station and convenience store business to Giant Eagle, announced they are donating $500,000 to the Madison County Community Foundation for the county’s Habitat for Humanity program and $25,000 to the Madison County Historical Society. Our partners at The Herald Bulletin report they are also donating $500,000 to the Paramount Theatre to pay off a restoration mortgage taken out nearly 30 years ago.
The 90-year-old building is one of 12 remaining atmospheric theaters designed and built by Ukrainian architect John Eberson.
“The Paramount is kind of the culture of downtown, and it has had a mortgage for some time,” Jay Ricker said. “This donation should set the Paramount on a road to self-sustainability.”
Settling the theatre’s debt means the Paramount will save nearly $8,000 a month, Executive Director Randy Hammel told the Herald Bulletin. While this new flexibility will allocate some money for additional programs and allow restoration to the historical building, Hammel said most of the money will go toward general repairs.
Read more from The Herald Bulletin by clicking here.