This after a tripartite agreement for the rehabilitation, maintenance and operation of the facility, which stands on a 7,633 square meter lot located at the northern end of Taft Avenue near the foot of Quezon Bridge, was entered into by the City of Manila, the Government Service Insurance System (GSIS) and the National Commission for Culture and Arts (NCCA) at Malacañang Palace.
The 10-page agreement was signed by Manila Mayor Lito Atienza who has long been pushing for the rehabilitation of the facility, GSIS general manager Winston Garcia and NCCA chairperson Evelyn Pantig. President Arroyo witnessed the signing of the agreement.
The revival of the cultural and historical landmark is now possible after President Arroyo instructed the NCCA to allocate P50 million to start the structures rehabilitation.
The theater, once operational, shall be used for the promotion of performances that cater primarily to the Filipino masses, those that would highlight Filipino talents and project the best in Filipino values. Cultural performances would include, among others, traditional Philippine performing arts like zarsuelas, moro-moros, balagtasan, kundiman and the like.