UAFS may acquire Second Street Live! building

The University of Arkansas Board of Trustees has approved a plan that would allow the University of Arkansas at Fort Smith to operate and possibly own the Second Street Live! facility in downtown Fort Smith.

Second Street Live! — located at 101 N. Second St. and opened in early 2010 at a cost of around $2 million — seats around 225 in the main performance area and has a flexible stage that can be adjusted for capacity and performance benefits. The facility will be open to rent for meetings, receptions and other gatherings.

Renovations to the Second Street Live! (SSL) building began in November 2009. The building, first constructed in 1890, has roughly 20,000 square feet divided evenly among the first floor and a basement.

However, the SSL board has had trouble financially supporting the building and the group’s mission of connecting art — music and visual — with the community.

“The story of the nonprofit world is that it has been very difficult for many nonprofits to survive and thrive,” explained SSL board member John McIntosh. “We can’t sustain it without continuing to ask the community for major gifts.”

According to UA system documents, the building has a loan balance of $1,196,822. Apparently, Regions Bank will acquire the building at a loan loss and transfer the property to the Central Business Improvement District for $700,000. UAFS will then enter into a 15-year lease-purchase agreement with the CBID.

The monthly UAFS payment — not including taxes and insurance — would be $5,408.

UAFS officials plan to use the about 18,000-square-foot building (10,000 square feet on the first floor, and 8,000 square feet in a basement) to expand its art programs.

“UAFS currently has music and theatre programs in the Breedlove Building and Theatre on campus. Because these programs have grown substantially over the last five years and, with the addition of a growing theatre major, stage performance space is well over capacity,” UA System President Donald Bobbitt wrote in a memo in which he endorsed the lease-purchase plan. “The 2nd Street Live building would allow UAFS space for student and faculty performances and would provide space for small theatre productions. Another vital use of the space is as a gallery for an expanding traditional art and graphic art program.”

University of Arkansas at Fort Smith Chancellor Paul Beran has sought for several years a space to expand UAFS programs into downtown Fort Smith.

McIntosh said the SSL board and mission to “serve artists, audience and community” will continue.

“I’m proud that Second Street Live has been able to survive and deliver the type of music we have brought to this area. … We are also proud that we’ve been able to deliver quality art and music outreach programs to the public schools, and to the university,” McIntosh said.

McIntosh said the SSL board also plans to work with UAFS to bring unique and sometimes edgy entertainers to Fort Smith. Artists brought to Fort Smith by SSL include Esperanza Spalding, Ray Wylie Hubbard, Sam Bush, Brave Combo and Asleep at the Wheel.

“I’m not sure how that will all work out, but I believe we will be a part of it, because the Chancellor (Beran) appreciates what we’ve done and what we’ve created with our brand,” McIntosh said.