Raue Center Retires $2.3 Million Debt

A generous, anonymous donor has paid the $ 2.3 million debt of Raue Center For The Arts. The $ 2.3 million was the remainder of an original $ 8.8 million debt created when the Raue building was renovated in 2002. The debt, and ongoing maintenance on the 90 - year old historic building was financially prohibitive. Raue Center is grateful for the gift, which will allow the organization to focus on reformatting programs and expanding educational classes for children and adults.

In addition to debt retirement, the Crystal Lake Civic Center Authority which owns the building, and Home State Bank announced a long - term lease agreement between Home State Bank and Raue Center for the Arts.

" We are incredibly grateful to Home State Bank for providing for the Building and ensuring that the Arts have a home for the next 50 - 100 years. I know the former presidents Bill Dwyer, Paula Dorion - Gray, Matt Turk and Chuck Stevens dedicated a lot of time to this project and are thrilled with the outcome. " said Tim Paul, Board President of Raue Center for the Arts. "

The donation of $ 2.3 million is an endorsement of the Arts. People of this community value the arts and professional theater. The process was challenging, yet everyone collaborated to provide a stable future for Raue Center and Williams Street Repertory, " exclaimed Raue Center CEO, Richard Kuranda. "

Thank you to everyone involved in the process and thank you to the community for respecting and honoring the contributions of all of the artists that Raue Center welcomes. " Raue Center leadership announced their need for additional funding in November 2017, citing the burden of debt exacerbated by the ongoing maintenance of the building after 2017 flooding. Original efforts were focused on the City of Crystal Lake, but the focus shifted when, an anonymous donor came forward. After much discussion ; all parties were able to come together and agree on the new lease terms between Raue Center and Home State Bank. "

Through Home State Bank's philanthropic contributions, the bank has made a long - term commitment to partner with Raue Center, " said President and CEO of Home State Bank, Steve Slack. " We recognize that Raue Center provides a great benefit to McHenry County and feel strongly that our investment into this great organization will help them fulfill their mission. " " Crystal Lake is a wonderful community, " said Kuranda. " We are proud to be an economic engine and we are so grateful to Mayor Shepley, City Manager Gary Meierhofer, the Civic Center Authority and all our donors who made this a reality. We especially want to thank Home State Bank for standing by us all these years. The collective actions state loudly and clearly that ART matters. " " Raue Center plans include continuing to grow and enhance programs, arts education and community engagement. The improved financial status will allow donor dollars to directly impact programming and arts, " said Kuranda. " With these financial constraints alleviated, we are excited for the future of the arts ! " About Williams Street Repertory Williams Street Repertory is a non - profit theatre company located in Crystal Lake, IL.

Over the past seven years, WSR has built a reputation for artistic excellence as one of Illinois ' leading producing theatres. WSR is dedicated to sustaining an artistic process of innovative and emotionally charged work, telling diverse stories and creating an in - house Production Company of well - respected artists. Since opening, WSR has presented more than 25 productions with a wide range of appeal, from Chicago premieres and international debuts to holiday favorites. In 2016, WSR entered into a contract with Actors ' Equity Association, making WSR the only professional theatre company in McHenry County. WSR is dedicated to its mission of producing diverse and emotionally charged stories that deepen the cultural richness of our community and our region.

WSR was made possible through support provided by Susen Håakansson Berg and James C. Berg, the City of Crystal Lake, ComEd, McHenry County Community Foundation and Epic Repertory Theater Company. For additional information, visit wsrep.org. WSRep is a member of Theatre Communications Group, the national organization for the American theatre. TCG has existed to strengthen, nurture and promote the professional not - for - profit American theatre for over 50 years. * Member of Actors ' Equity Association, the Union of Professional Actors and Stage Managers in the United States.

Raue Center is a 501 ( c ) 3 nonprofit organization dedicated to enriching the lives of all through the arts. For 16 years, Raue has provided quality programming - striving to make it pertinent, available and affordable to all. As a painstakingly restored, 1920s regional showcase theater named for its benefactor - Lucile Raue - Raue Center has attracted the finest and most diverse stars, Broadway shows, musicians and artists in the industry. Named on the League of Historic American Theaters, Raue Center is one of the finest examples of restored art and decor in the nation. The 750 - seat theater, located in historic downtown Crystal Lake, Il., is a gathering place for our region's citizens and has become a true destination. Currently Home to Lucy's Cafe Comedy Club, Williams Street Repertory, and The National Piano Conference.

For additional information, visit rauecenter.org, facebook.com / RaueCenter and twitter.com / RaueCenter.

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