Paper Mill Playhouse Officially Purchased by Township of Millburn

Dan Bacalzo

New Jersey

July 28, 2008

The Paper Mill Playhouse

Paper Mill Playhouse has closed its deal with the Township of Millburn, which has purchased the land and buildings situated on Brookside Drive from Paper Mill Playhouse for nine million dollars. The township will then lease back the property to the 70-year-old Playhouse for up to 75 years with an option to repurchase in year eleven.

This move follows over a year of negotiations, and will enable the non-profit theater to pay off the loan from Investors Savings Bank last year that covered a 2007 operating deficit, provide working capitol for the theater and add to a newly created endowment seeded by the Robert Wood Johnson Foundation earlier this year.

For more information, visit www.papermill.org.