The future of local arts nonprofit Tacoma Arts Live is looking brighter after its board relinquished managerial rights to a receiver with experience aiding businesses in financial distress.
The organization previously announced in January it would close this summer after 47 years, citing insurmountable debt and declining ticket sales.
But on March 13, court records show the TAL board filed for voluntary receivership, a process where a neutral party takes control of all of its assets, liquidating and distributing funds to creditors as deemed necessary…