UPDATED: Monday, December 17, 2012 - 9:36pm
Waco, TX — Waco officials have approved using public funds to help restore the aging Waco Hippodrome.
The TIF Zone Board on Friday approved a 20-percent contribution to the project, which aims to help revitalize the almost century-old theatre in downtown Waco.
The joint project with private investors would restore and modernize the building in hopes to bring people and their money downtown.
The board usually contributes 15 percent, but they felt the project was worth the extra money.
"I definitely see the project as a catalyst for other big, exciting projects that will come afterwards," said Megan Henderson of Waco Downtown Development.
"However, I do not think doing a 20 percent deal means we will see more 20 percent deals in the future," said Henderson.
The theatre, which is a recognized landmark, has been dormant for more than two years.