A bit more detail in this tweet. A leaseback would be better than nothing:
Perhaps, but I still think it poses an existential risk to the festival in the longer term.
It simply doesn't have a sound financial footing, or the organization muscle/institutional capacity, based on recent events, to stay afloat.
Bringing back the programmers is great; but you need an Admin/Mgt team for the non-creative stuff, like fundraising, sponsorship, and monetization opportunities (other than redevelopment, and selling the furniture to keep the lights on)..
I know some of what's going on in the area assembly-wise or being kicked around anyway, I imagine you do as well; I don't see the venue holding on if there's a way to ensure its preservation, and without the venue, I'm not sure I see the programming surviving.
I like
@A Torontonian Now 's suggestion.
But then I would put in for the notion of separating the venue off to a non-profit conservancy whose charter includes providing the venue at cost to Hot Docs, then fundraising the $$ to endow the venue, and to carry out needed capital works.
The Auditorium requires extensive work still, and the balcony still has original (or at least 50-year old+ seating.
I suspect what you can't see may be an even larger issue.