WACO (February 25, 2010)—The historic Waco Hippodrome, the downtown theater that was restored and reopened in 1987 as a venue for a wide range of live stage entertainment, is closed for the foreseeable future, Waco Performing Arts Company board member Dean Riley confirmed Thursday.

The decision to close the theater and release the staff was made at an emergency board meeting Wednesday night, Riley said.

Thursday night’s performance of One Night of Queen at 7:30 pm was cancelled.

The board decided Wednesday night the performing arts company didn’t have the funds to put the show on Thursday, Riley said.

"The WPAC board was faced with being unable to pay balance due to the One Night of Queen production company before tonight's performance,” he said in a statement issued Thursday afternoon.

Riley estimated that about 400 tickets were sold for the performance and said the WPAC hopes to be able to provide refunds to the purchasers.

The board notified four full-time and two part-time staff members of the closure Thursday morning.

They will be paid through the end of the day Friday, Riley said.

The theater has struggled financially in recent years, largely because of a dispute with the comedy team Greater Tuna, which canceled shows in September 2008 and January 2009 and then backed out of a third show last year.

Citing a pattern of uncertainty and broken promises the Waco Performing Arts Company said in March 2009 it had cancelled the September 2009 production of the twice-rescheduled “Tuna Does Vegas” and that it was “seeking the advice of legal counsel.”

“The actions of Tuna’s management organization have caused us extensive financial damage,” the March 2009 statement said

The WPAC e-mailed ticket-holders and asked them to consider the tickets purchased for the show tax-deductible donations to the company.

Riley said the debacle was a huge hit for the WPAC, which is awaiting resolution of the lawsuit.

The economic downturn exacerbated the financial problems, Riley said, and had a major impact both on the types of acts that could be booked and on ticket sales.

The nearly century old theater had been closed for several years when fundraising started in 1981 to restore the building for use as a live performance venue.

Over the next five years, $2.4 million was raised in pubic and private funds and on Feb. 26, 1987, the Hippodrome reopened.

The theater, which originally opened in February 1914, is listed on the National Registry of Historic Places and the Texas Historical Commission roster and is also a member of the League of Historical American Theaters.

The Waco Performing Arts Company, a community based, nonprofit organization, owns and operates the facility.