- 20 - During his ownership of the Redwood City Fox, Jacobs showed classic films in the theater, as well as some live performances. He also attempted to operate the Redwood City Fox as a dinner theater. To this end, he installed an upscale French delicatessen in the West retail space, which was operated by his wife for 2 years.15 He used the East retail space to house his antiques business and periodically held antique auctions. Additionally, Jacobs moved his real estate development business offices from nearby Sunnyvale, California, into offices he had constructed in the backstage area of the theater. Jacobs also leased the Second floor office space to the County of San Mateo, commencing December 15, 1984. It was a 3- year lease, but was terminated on December 14, 1986, prior to the end of the lease term. The rent was $7,150 per month, with Jacobs paying all expenses. This rent equated to approximately $.90 to $1.00 per square foot. By 1986, Jacobs was convinced that he could not operate the Redwood City Fox profitably. Jacobs believed he had the following alternatives with respect to the property: Raze the building and develop the site himself for the construction of an office building; sell the property to developers; or donate it to an organization which would preserve the property. Jacobs wanted 15 After he closed the delicatessen, Jacobs renovated the West retail area and converted it back to commercial use.Page: Previous 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Next
Last modified: May 25, 2011