After a time of fundraising and looking for finances to restore the historic Ace Theatre, RePurpose Capital and Porchlight LLC have secured funding, WKRG News 5 reports. The $3.5-million project will breathe new life into the last surviving segregation-era theatre, which will be turned into a 100-seat venue, as well as the new home of the Excelsior Band. The project aligns with RePurpose Capital’s and Porchlight’s endeavor of revitalizing “historically significant places,” the release said. “Porchlight is deeply grateful to play a role in a project of such importance for the Avenue community, for the history of Black life in Mobile and to the enduring legacy of the Excelsior Band,” said Porchlight Real Estate Director John Ruzic…