Enter the Montpelier Community Foundation with a plan to procure and reopen the historic facility. Negotiations began in early 2021 with a hopeful donation of the facility to the foundation. Ultimately the owners chose to offer to donate half the appraised value of the theatre if the foundation could raise the funds to purchase the remaining half. With a sizeable donation from Shane and Camille Petersen together with other funding, the foundation purchased the Centre Theatre in April 2021 and entered a triple net lease with C and S Theater Management, LLC to reopen the theatre in May 2021 to much acclaim.

In order to maintain the validity of the original owner’s contribution according to Internal Revenue Service guidelines, the foundation was unable to sell the theatre for less than the appraised value for three years. During that three year period, the lease required C and S Theater Management, LLC to pay for all maintenance, insurance, property taxes, payroll and any other operating expense. All revenues to pay these expenses is derived primarily through concession sales and limited from admission receipts due to the required movie industry model. The expiration of the three year waiting period culminated with the transfer of the theatre to the Peterson’s company this week.

Prior to reopening, the foundation assisted with the cost of some needed roof repair that was completed by local contractor Sims Roofing. The Petersen’s also invested in purchasing a new digital projector system, installed new seating to enhance the movie experience, repainted the interior, revamped the outside marquis and remodeled the concessions stand. Also, a community service project was conducted to help clean the entire interior and exterior to ready for the reopening.

The theater has been a mainstay of downtown Montpelier since 1923 when Stanley Rich went into partnership with his brother Joseph and started the Rich Theatre. He and his wife Kathryn operated the theatre for 25 years and then sold out to the Voller Theatre Circuit. Later the name was changed to the Centre Theatre. This information is enshrined on Marker #4 of the Downtown Walking Tour signage that is visible every summer season in the nine signs installed in the historic downtown business district in Montpelier. These nine walking tour signs were recently replaced by the foundation with new signs after 20 plus years of usage with donations from the Idaho Community Foundation and the Montpelier Rotary Club.

The reopening of the Centre Theatre was received with rave reviews by the community. It represented a large investment by the Petersen’s, lots of work and coordination by the foundation and the support of a grateful community. With the evolution of the movie industry and its relationship to the usage of theaters and growing streaming opportunities, many rural movie theaters closed for good after Covid-19. The preservation of the Centre Theatre is proof that when a community comes together, a rural city like Montpelier, Idaho can rebound even when faced with the worst of economic conditions as experienced in the Bear Lake valley and the entire world due to the pandemic.