Yesterday, the Roanoke Rapids Theater auction closed.  This is the theatre that was first called the Randy Parton Theater and that’s been a disaster from the word go.  You probably remember hearing about it.  The city of Roanoke Rapids paid for the project with a $20 million loan.  They still owe something like $17 million.  And the action closed with a top bid of…wait for it…$3.45 million.  Which, unsurprisingly, didn’t meet the reserve price.  So the city will have to figure out whether they can negotiate something better, hold onto the property, or take the $3.45 million and cut their losses.  At any rate, it’s been a terrible deal for the city and its taxpayers.  Local governments beware.