TODAY is D-Day for the Consett Empire but it looks likely that £500,000 needed to guarantee its future survival will be granted.
The Northern Echo revealed in early February that Derwentside District Council would need to approve a £300,000 grant for essential repairs.
Now the council has revealed that more than £500,000 is needed to pay for the Victorian theatre described as "a jewel in the crown for County Durham".
The Empire urgently needs electrical rewiring and a new roof. New legislation means work to make it accessible to disabled people must be completed by 2004.
The council plans to find the money through sales of assets in the coming year, and from the general fund. A bid has also been lodged for a £50,000 grant from National Lottery agents Northern Arts, and Friends of the Empire have pledged up to £20,000.
The rescue plan has already been approved by the council's cabinet and will be considered by the overview and scrutiny committee at 6pm today, at Consett Civic Centre.
Founder member of the Friends, Pat Bousted, said the Empire was of vital importance to Derwentside.
She said: "If that place closed it would be like taking part of my life away.
"This is a lovely theatre and is well known in the art world, Ken Dodd even mentioned it in an interview recently. The feeling for it in the community is tremendous."
Leader of the council, Alex Watson, said: "It is a classic Victorian theatre and is important for the whole county. I would say it is a jewel in the crown.
"Attendance has gone up across the board at the place, which shows how popular it is. The cabinet voted to approve the plan unanimously."
If the plan is approved, some of the money will go towards decoration, renewing seating and front of house improvements.
The total cost of the work would be £502,825 although £67,750 worth of structural work is also recommended.
The chairman of the scrutiny committee and leader of the opposition Derwentside Independents, Bill Stockdale, said he expected the committee to approve the scheme tonight.
It would then need to be ratified by members of the cabinet once again, in the coming weeks.
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