MARIETTA - The Earl Smith Strand Theatre on the Marietta Square has reinvented itself as one of Marietta's most vibrant cultural and arts centers since its reopening in January.

The historic theater and its event rooms have either hosted or booked 293 events for 2009, including weddings, movies, musical theater performances by its in-house performing company, The Atlanta Lyric Theatre, and such musical acts as Pam Tillis and Billy Joe Royal. But while the theater is earning enough money to pay for its monthly expenses, donations are still needed to pay off its original loan.

As of July, the Friends of the Strand, a group of local residents and business executives that have helped to find financing for the project since fundraising began in July 2004, had raised $3.8 million in cash and pledges to pay for the original $5.7 million loan. Because of the decline of the economy, however, $300,000 in pledges have defaulted and $2.2 million is still needed to pay for the original loan. The group is hoping to raise that amount by August 2011.

"In these economic times, raising the money has been a little tougher than we anticipated," said Stan Wise, committee member for the Capital Campaign to Retire the Debt. "But the community has really come together and invested in the Strand, and has been a testament to Cobb's residents and business owners. The Strand will anchor the Square, city and county for decades to come, so it's important to make sure that this original debt is erased and the theater can move forward."

Scott Gregory, Vice Chair of the Friends of the Strand and chair of the capital campaign committee, said the original $5.7 million loan was taken out to cover start-up costs and renovations, and monthly revenues have been used to cover the loan's interest.

"We're running a grassroots campaign for the community, where people can purchase bricks and theater seat plaques in honor of someone," Gregory said. "But we're also pushing for donations from local corporations, and donations are certainly open to anyone who would like to help. There have already been so many events for children, educational programs, benefits, etc. that this theater has really become something that the community needs, and will certainly continue to serve the community in the future.

Commemorative bricks can be purchased for $250 per 4x8 brick or $1,500 for an 8x8 inch brick, which will be showcased outside of the theatre underneath the Strand's marquee. Less than 100 theater seat plaques, which alone raised $400,000 in cash before and after the theater's construction phase, are left to be dedicated at a cost of $1,000 each.

Gregory said that even when the time comes that the $2.2 million loan debt is paid off, their fundraising efforts will continue.

"We'll certainly continue to accept donations and give back to the community through helping local charities and hosting top-notch artistic programs," Gregory said.