August 17, 2011 in News by Eric
Members Vote and Approve Partnership
After a long, public battle, voting members of Le Petit Théâtre du Vieux Carré have made their decision. In a vote of 74 in favor and 58 against, the members voted to approve a bylaw change that allows the Le Petit Théâtre du Vieux Carré Board (LPT) to sell a portion of the building to the Dickie Brennan Restaurant Group (DBRG).
“The Board of Governors sincerely thanks the members for speaking loudly and definitively that they are with us as we move forward in making Le Petit the magnificent theatre it can once again become,” LPT Secretary Leon Contavesprie. “We are excited that we will soon have a world-class restaurant as our neighbor, and that we will be able to finally retire our debt and build an endowment.”
Yesterday, LPT obtained a temporary restraining order against Le Petit Theatre Guild President Jim Walpole and all those working alongside him in an effort to end a campaign of misinformation and abuse of court process designed to confuse the members of Le Petit Theatre and non-member ticketholders and influence the vote regarding the bylaw change. Tonight, voting members have agreed with LPT to move forward with changing the bylaws and eventually allow the sale to DBRG.
“We’re excited we’re able to help secure the future of Le Petit Théâtre, and we’re looking forward to our long-term partnership in making this theatre one of the best in the country,” said DBRG Managing Partner Dickie Brennan. “Hopefully we will open the doors to this establishment within the next year.
DBRG wants to purchase approximately 60 percent of its building at the corner of Chartres and St. Louis. DBRG will obtain the small theatre, upper floors and main lobby, with LPT retaining the main stage auditorium, stage lobby, orchestra pit and stack room. This agreement will free LPT from its debt and allow Le Petit to hire staff and renovate the theatre to continue high-quality comedies, dramas and musicals in the future.
After the Theatre’s serious financial problems caused the Board to cancel the 2010-2011 season, the Board began searching for a solution. With the harsh possibility of losing the LPT building and no longer being able to produce theatre at the current site, the LPT Board decided that the DBRG purchase was LPT’s best opportunity to preserve and enhance the building, ensure the long-term survival of the theatre and improve its economic vitality. DBRG has creatively solved one of the LPT’s operational issues by allowing LPT unfettered use of the main lobby, courtyard and expansive, new restroom facilities during LPT’s performances.
The transaction with the Dickie Brennan Restaurant Group will pay Le Petit’s $700,000 mortgage and approximately $150,000 vendor debt, and will provide – for the first time ever – a seven-figure endowment With the DBRG transaction, LPT will retain ownership of the theatre.
The LPT building is already zoned properly to allow for a restaurant at the location, so no special zoning changes will have to be made. Additionally, the DBRG has agreed to a deed-restricted title.
Le Petit Théâtre du Vieux Carré is a 501(c)(3) nonprofit performing arts organization which provides a wide range of quality theatrical productions and programming. It has entertained, enriched and educated the diverse population of our region and enhanced the economic vitality of the city of New Orleans for close to a century. Founded in 1916, LPT is the oldest continuously running community-based theatre operating at the same location in the country and a cultural icon in the city of New Orleans. For more information, please visit: lepetittheatre.com
As part of the famed New Orleans restaurant family, Dickie Brennan had an early education in hospitality at family owned Commander’s Palace under Chef Paul Prudhomme. This was the beginning of a long journey down the road of restaurateur. Having been raised in a family that emphasizes gaining exposure and learning from others, he has travelled extensively and has trained under some of the world’s great culinary talents. Following his work in some of Paris’ acclaimed restaurants, he returned to New Orleans to open the Palace Café, his vision of New Orleans’ version of a Grand Parisian Café, in 1991. In 1998, with sister, Lauren Brennan Brower, and business partner, Steve Pettus, he opened Dickie Brennan’s Steakhouse. In 2002, Dickie released his first cookbook, “Palace Café: The Flavor of New Orleans,” and just a few months later, opened Bourbon House Seafood and Oyster Bar. All three restaurants have since received national acclaim. Dickie remains active in the hospitality industry and community. In addition to being an ambassador for New Orleans and its unique culture, he is a member of the James Beard Foundation’s Board of Trustees and serves on the Board of Directors for the National Restaurant Association and The Southern Food & Beverage Museum.
