Indiana city buys historic theater after failed renovations

ANDERSON, Ind. (AP) - A central Indiana city is now the owner of a historic theater that several groups had tried to renovate and reopen over the years.

The city of Anderson's warranty deed for the State Theatre was finalized Monday after the city purchased it for $127,500 from a California-based company.

Mayor Thomas Broderick Jr. says the price was reasonable and the theater could be tied into redevelopment efforts in the city about 25 miles (40 kilometers) northeast of Indianapolis.

He tells The Herald Bulletin the city hopes to find someone interested in leasing or buying the property, calling it "a unique building."

The theater opened in 1930 and closed in 2008. It was damaged by a water leak in the 1990s that led to a lawsuit against the city.

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Information from: The Herald Bulletin, http://www.theheraldbulletin.com