its application was denied twice. Because of this disagreement, Anderson reneged from his lease of Town Hall in January 1979. The venue saw a net loss of $138,000 in 1978 and $200,000 in 1979. Revival 1980s renovation In March 1979, the Town Hall Foundation took title to Town Hall, though NYU continued to collect payments from the air rights. The foundation, led by Marvin Leffler, acquired the Town Hall for a nominal fee of $10. Leffler, a metal-product manufacturer, received no salary from the foundation; Lawrence Zucker was hired as the director. NYU also provided a $70,000 subsidy, giving financial support to Town Hall for two years. The foundation did not raise any money for two years after acquiring the venue. Instead, the foundation operated Town Hall exclusively as a rental venue, charging $1,200 to host an event outside the morning hours. Within a year of taking over Town Hall, the foundation had started restoring parts of the auditorium. Town Hall was added to the National Register of Historic Places in April 1980, which the foundation celebrated later that year with a concert and a plaque. To avoid running a deficit, the foundation planned performances only if there was funding for them. The Town Hall Foundation needed to raise $1.2 million to restore the building; the National Endowment for the Arts would provide a $400,000 grant if the remainder was raised privately. The federal government would provide another $300,000 to fund the proposed $1.5 million cost of the renovation. By 1981, Town Hall was finally profitable and was raising $2 million for operation and restoration. The foundation planned to install plaques on the auditorium's seats to honor donors who gave over $1,000. Larger donors would also get different parts of the building named after them; anyone who gave $1.5 million would get the entire auditorium named in their honor. Some $250,000 had been raised toward the proposed cost by April 1982. The work was to be performed over a five-year period in three phases. In 1983, the federal government allocated funds to Town Hall's renovation. Leffler also obtained grants from private foundations to fund the renovation, but nineteen banks rejected the foundation's request for a mortgage. The mortgage ultimately came from Apple Bank chairman Jerome McDougal, who, as a child, had performed in a brass band at Town Hall. By mid-1984, the Town Hall Foundation received an Urban Development Action