By David Rinehart –(Published: July 13, 2017) The remaining board members of the nearly seven year old Spanish Peaks Community Foundation has decided to cease operations after determining what to do with their assets.
The foundation recently contracted with the county to take over operating the Fox Theater in Walsenburg.
The task has proven daunting for the volunteers – because the theater cannot resume operations, generating income, without a new projector. The cost of a new projector and computer server is around $40,000.
The foundation board is trying to determine what to do with the nearly $40,000 in cash assets as well as some land holdings currently owned by the foundation.
“We could buy the projector – but that would leave no funds to operate,” foundation President Debi Patch told the Board of Huerfano County Commissioners (BOCC) at a meeting Tuesday afternoon.
“We’ve been unsuccessful recruiting board members the last two years,” Patch added. The county commissioners had no answers, other than to say the county can not operate the theater.