About
A landmark Hollywood movie theater where Sid Grauman staged the first Hollywood premiere has made a Hollywood-style comeback.
Through the efforts of the American Cinematheque and the Community Redevelopment Agency (CRA), Hollywood’s Egyptian Theatre once again rolls out the red carpet and klieg lights as the new home for the Cinematheque, a non-profit film theater showcasing classic films, documentaries, independent film and world cinema.
Approved by the Los Angeles City Council on Sept. 17, 1996, the CRA agreement allowed for the sale of the complex for a nominal $1 fee and provides a $3 million repair grant to facilitate the rehabilitation of the complex. The remainder of the funding necessary to complete the $9 million project includes a $2 million loan of federal funds from the Commercial Industrial Earthquake Recovery Loan Program (CIERLP) administered by the CRA, and American Cinematheque’s existing equity funds of $1 million. Additional fund-raising efforts by the American Cinematheque will cover the remaining costs of construction.
