Joliet City Manager Suggests Transferring Ownership of Rialto to City

JOLIET, IL — "Save the Rialto.”

It’s been a common phrase heard lately from residents over the financial troubles the Rialto Square Theatre has been facing, according to City Manager Jim Hock.

And his solution to save the Rialto is simple: transfer ownership to the city.

Hock said the city should adopt a resolution asking senators, state senators and representatives to introduce legislation that transfers ownership of the Rialto and its properties to the city.

“The city will sell the office buildings that aren’t part of the theatre to the private sector, will pay off all the bills the Rialto board has approved for payment but have not paid and will assume the renovation loan obligation of $2.4 million,” Hock said.

The city will also manage the non-concert events like weddings and recitals and enter into contracts with Harrah’s and other entertainment vendors to put on concerts and performances.

Hock said the proposal is the “natural progression” of the commitment the city has made to develop the downtown area.

“We own the baseball stadium, the building at right field, Union Station, soon a new train station, a new bus station, along with the historical museum,” Hock said. “If the city is going to move forward with the investments to implement the downtown plan, we have to ensure concerts and other performances are scheduled at the Rialto.”

Hock said the proposal was not for next year or the next four years, but forever.

The City Council did not comment on Hock’s proposal.