UPDATE 9/13/23: The city of Enid passed the measure 7-0 at the special meeting that took place at 1:00 p.m. Find more information here.
The City of Enid will be holding a special meeting at 1 p.m. on Wednesday, September 13th. The agenda for the special meeting says “Consider approval of a Letter of Commitment with Icon Cinemas Enid, Inc. (S&K Holding Company) to extend credit in the amount of $1,800,000.00, and provide additional funding of up to $2,000,000.00, for the purchase of land and construction costs for a new movie theater at 918 South Garland Road”.
The city of Enid is considering the move after the Stride Bank pulled funding from the project earlier this year. If the city decides to grant the additional credit and funding then the funding is contingent on Icon Cinemas Enid, Inc. receiving loan approval from its bank and the USDA.
Icon Cinemas currently has 6 locations in
• Colorado Springs
• Albuquerque
• Oklahoma City
• Edmond
• San Angelo
The city of Enid listed some of the reasons for going forward with the move in a PDF containing information about the project, citing quality of life and Enid not having a movie theatre despite being the 9th largest city in Oklahoma. In the PDF they also cited project risks which include rising construction costs, rising interest rates, and uncertainty in the movie theatre industry.
