LEWISTON – The city will step up its payments to Roger Theriault, paying off the Colisee by 2008, according to a settlement agreement signed Wednesday.
Theriault and the city of Lewiston have also dropped all claims against each other as part of the deal.
Theriault filed suit in March after the city missed its first $25,000 Colisee purchase payment. In April, the city filed a countersuit, claiming Theriault had misled the city about the condition of the ice arena it purchased from him.
“We all want to be able to move on, beyond this,” City Administrator Jim Bennett said. “Roger and his family worked really hard to bring a team to Lewiston. We recognize that, and we’re just as committed to make it work now.”
According to the deal, Lewiston pays Theriault $51,750 now. That represents the February 2005 and February 2006 payments of $25,000 each, plus a $1,750 late payment charge.
The city will pay a $25,000 installment in July 2006 and another in July 2007, according to the settlement. A final $125,000 balloon payment is due Oct. 15, 2008.
Hockey team effort
Theriault said he’s glad his efforts at the Colisee are being recognized.
“For 13 years, I worked with the Quebec Major Junior Hockey League to get one of their teams here,” Theriault said. “We got that done, and we got the building renovated and ready for them move in.”
According the original deal, Lewiston would have paid $25,000 annually through 2014.
Theriault owned the Colisee when it was called the Central Maine Civic Center. He helped broker the deal that brought the Lewiston Maineiacs hockey team to town. Mounting debt threatened to derail planned renovations, however.
The city got involved in January 2004 to keep the arena open, keep the Maineiacs happy and protect its own $2 million loan to bring the team here. The City Council voted to buy the arena for $250,000 and take over Theriault’s $3.2 million in debt to area builders, painters and engineers for work completed on the center.
The city was late on its first $25,000 installment payment, due in February. Theriault filed suit late in March when he had not received it. The city filed the countersuit, claiming Theriault had breached his contract with the city but stopping short of making any specific claims.
“That was left vague on purpose,” Bennett said Wednesday. “Our goal from the beginning was to move forward, and that’s why we kept those instances to ourselves.”
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