The Glen Cove movie theater, closed since March 2012, may reopen as soon as January.
Commercial real estate investor Robert DiNoto, of the Huntington-based DiNoto Group, took over ownership of the theater last week. DiNoto said that his group is in negotiations with multiple theater operators at a press conference Friday.
"We're trying to make the best choice for the town and for us as well, moving forward and making sure that the theater stays here for the foreseeable future," he said.
Whether a local operator or national operator takes over the theater will determine how soon it opens, said DiNoto.
"If it's a national operator, unfortunately their timelines are longer," he said. "If we go with a local operator, any where from early 2014 to mid to late 2014. The early 2014 would be more of a local operator."
Regardless of the operator, the theater will undergo a renovation ranging between one to four million dollars.
Mayor Ralph Suozzi called the Glen Cove movie theater an "anchor" of the downtown business district, substantiated by a market study conducted by the city last year.
City incentives involve a PILOT program for taxes, according to DiNoto, and possible additional incentives once an operator is decided upon. Mayor Suozzi added, "A tax incentive of tens of thousands of dollars is nothing compared to the millions in economic benefits that this theater generate for the community."