A lack of a contract with the Los Angeles Cultural Affairs Department has led the Valley Cultural Center to pull out of operating the Madrid Theatre as of the end of January. A new contract has never been offered to the not-for-profit organization to continue operating the 450-seat theater in Canoga Park and it didn’t feel it had a legal position to continue occupying the building, said VCC CEO and President Jim Kinsey. “It was a business decision made by the board of directors with my advice,” Kinsey said. “The situation had just gone on too long and it was time to make a smart business decision and bow out.” The VCC will operate the theater until Jan. 31, 2007, when the city will take over until a new operator is found. The center is assisting to make sure there is a seamless transition, Kinsey said. The VCC will continue to operate the theater for shows already booked, Kinsey said. Other advanced booked shows will have to re-contract with the city, he added. The Madrid Theatre, originally an adult movie house, was redeveloped after it was damaged in the 1994 Northridge earthquake. The Los Angeles Community Redevelopment Agency oversaw the development with a $3.3 million federal grant raised by the city. The VCC began operating the theater in 2003. “We’re very happy with what we accomplished there,” Kinsey said. “We’re obviously upset having to make this decision but it’s in the best interests of the organization.”
