The Washington Business Journal is reporting that the District Government is planning on selling or leasing the parking lot behind the Lincoln Theatre on U Street, according to Neil Albert, Deputy Mayor for Planning and Economic Development, who made the comments during a D.C. Council hearing on Wednesday, February 6, 2008.

 

Funds from the sale or lease of the parking lot would go directly back to the Lincoln Theatre and would be used to improve the long-term financial outlook for the theater.

Restored to its original 1920s splendor through collaborative efforts of public and private organizations and individuals, the theatre is currently cared for and maintained by the U Street Theatre Foundation, a 501(c)(3) organization.  The District Government has invested over $20 million in recent years for repairs to the theater's structure to prepare it for development.