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The celebrated performing arts venue was destroyed in a fire two years ago.
"Goodnight we are going to burn down Shakespeare," one of the suspects allegedly texted a girlfriend.
The teens are reportedly suspected of setting five other fires around the town.
The town added 16 new businesses last year, Hoydick said, noting that building permits and values have grown from 69 permits worth nearly $18.5 million in 2017 to 75 permits worth $28.2 million last year.