Over $4 million needed for Venice Theatre repairs after Hurricane Ian, director says - Insurance News | InsuranceNewsNet

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November 29, 2022 Property and Casualty News
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Over $4 million needed for Venice Theatre repairs after Hurricane Ian, director says

NBC - 8 WFLA (Tampa, FL)

VENICE, Fla. (WFLA) — Areas hit hard by Hurricane Ian are still recovering two months after the hurricane made landfall on Florida's west coast.

The Venice Theatre was particularly hit hard by the hurricane, suffering heavy damage that is now estimated to cost millions of dollars to fix.

An email sent out by Eric Watters, director of development for the Venice Theatre, said the organization had a $4.5 million insurance policy with a 3 percent deductible, providing $4.3 million for repairs.

However, the Venice Threatre said the costs of clean-up and repairs will require all of the insurance money and more.

These costs include:

* The final cost from ServPro for cleaning and mitigation of the water damage: $1.5 million ($600,000 already paid)

* Replacing the lighting equipment: $500,000 or more

* Replacing the sound equipment: $200,000 or more

* New stage: approaching $1 million

* Costume restoration: $500,000

* Fly rails: $450,000 (30 at $15,000 a piece)

Combined with the costs to replace the back wall and the roof, the Venice Theatre estimates that it will still need another $4 million after insurance.

The organization is now asking for donations to help pay for the repairs. The Venice Theatre's Board of Directors will be matching all donations before Dec. 31 up to $500,000/

"I like to think in terms of everyone who has the means giving at least $1,000," Watters said. "It would only take 4,000 such gifts to hit our goal. And it needn't be as painful as it might at first seem. On our website you can elect to give a monthly donation for the next 12 or 14 months on your credit card. Over 14 months, a $72 amount adds up to $1,000."

You can donate by following this link or mailing it to the Venice Theatre, 140 Tampa Ave. W., Venice, FL 34285

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