The leader of Nuneaton and Bedworth Borough Council says the arts centre costs £800,000 a year to run.
Kris Wilson has admitted that Bedworth Civic Hall is a problem for the council financially and structurally.
The council are about to submit a bid for Arts Council funding to 'help explore the future of Bedworth Civic Hall.'
Council leader Kris Wilson said: "We know that the Bedworth Civic Hall is a major problem for us as a council financially and also structurally and we need to look seriously at how we can safeguard its future and make it more financially sustainable."
The Civic Hall is currently being used as a Covid vaccination centre and it is still unknown when usual events will resume.
The arts centre costs the council £800,000 a year to run.
The funding from the Arts Council will be used to look into how the council can reduce the costs of running the facility.
Council leader Kris Wilson said: "This is to identify the future work that we can do with the Civic Hall to make it more financially sustainable. It costs the council £25 a person who walks through the doors whether or not they buy a ticket."
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