The Oakland City Council has unanimously agreed to loan the Fox Theater another $2 million to help it pay off subcontractors who completed the historic renovation, the Trib reports. That means the city has now loaned or paid about $51 million of the $90 million restoration. Which raises the obvious question: With so many multi-million-dollar loans to repay, especially to the city, can the Fox attract enough entertainment business in the years ahead to pay back all that money? Or will it be in danger of being sucked under by too much debt?
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