FORT PIERCE — After nearly two years of searching, Fort Pierce officials have selected a company to manage the historic Sunrise Theatre in downtown Fort Pierce.
Under a newly approved agreement, VenuWorks will take over operations of the theater, which has historically struggled to turn a profit. The company will have exclusive authority over managing, marketing and maintaining the venue.
The city will retain ownership of the theater and keep all revenue generated by the facility. In return, Fort Pierce will pay VenuWorks a $7,000 monthly management fee, along with 10% of annual gross food and beverage sales.
Existing city employees working at the theater will be evaluated for potential positions under the new management company, while VenuWorks staff will operate the facility.
As commissioners discussed the agreement, Commissioner Michael Broderick stressed the importance of oversight as the transition begins.
“The commission needs to keep their eyes on this from an operational standpoint, to make sure this is staying within the guardrails of what the Sunrise Theater is supposed to be doing,” Broderick said. “So if they stay in their lane, I want to keep them in their lane, and I want to keep them in compliance with their contract obligations.”
Broderick also noted the city will need to respond quickly to issues at the aging theater as they arise.
“They’re going to find this out immediately when they’re in there saying, guys, we’ve got a half a dozen leaks, or whatever the case may be. So we’re going to have to be nimble and ready to respond to live up to our obligations,” he said.
Commissioner Chris Dzadovsky said the agreement could help elevate the theater’s presence in the community and attract more entertainment to the city.
“This is a great opportunity for you guys to really make Fort Pierce shine. The city and the residents and those who come here will be looking for those great shows that I know you’re going to produce,” Dzadovsky said.
VenuWorks is scheduled to begin operating the theater June 1, while the company’s five-year contract officially begins Oct. 1. The agreement also includes an optional five-year extension.
In addition to overseeing theater operations, VenuWorks agreed to invest $50,000 into concession stand upgrades at the facility.
The agreement allows either the city or VenuWorks to terminate the contract with 120 days written notice.