The New York Times is reporting that the National Black Theater, a leading cultural arts center in Harlem, is financially in the clear after enduring years of turbulent neighborhood and internal disputes that threatened to shutter its doors. The good news comes after a partnership was struck between theater officials and Baltoro Capital Management. The details have not yet been worked out entirely, but for now, the theater has been relieved of a $10 million debt and is slated to remain in its current space, on 125th Street and 5th Avenue, rent-free and indefinitely.
National Black Theater was founded in 1968 by Barbara Ann Teer who dedicated her career to preserving performing arts in the Black community.
Read more at The New York Times.