Paramount Theatre Faces Funding Crisis Amid Seinfeld Fundraiser

UPDATE: The Paramount Theatre in Aurora is experiencing a critical funding crisis just as it gears up for its highly anticipated fundraising gala featuring comedian Jerry Seinfeld. Scheduled for January 2024, this event has become a beacon of hope amid severe budget cuts proposed by the city.

The Aurora City Council recently presented a budget that eliminates all previously discussed funding for the Paramount, which was expected to receive $2.5 million. This surprising announcement has left the theatre’s board and leadership reeling, as they had made significant operational decisions based on that funding. Paramount President Tim Rater highlighted the challenges of securing such high-profile acts, stating, “It takes a long time to do,” underscoring the delicate balance between availability, marketing, and competition.

The proposed budget cuts come as the city grapples with a significant budget deficit, prompting drastic reductions to the Aurora Civic Center Authority that oversees the Paramount and other cultural venues. In a shocking move, the city will not provide the $3.3 million that the Authority had downsized its request to, after initially seeking $5.6 million. This decision marks a pivotal moment for the theatre, which has served as a cultural cornerstone in the community, attracting 630,000 patrons in 2024 alone, with 83% coming from outside Aurora.

Concerns are escalating among theatre supporters, including Bruce and Linda Grider, who have invested in Seinfeld’s performance. Linda Grider remarked, “A year ago people were talking about what to do for the Paramount centennial celebration. All of a sudden there is a different feel. I hate to lose what has been built.”

Mayor John Laesch has faced criticism for his approach to funding the arts. He insists that budget cuts are necessary for fiscal stability, but many community members believe that the Paramount has been integral to Aurora’s revival following years of violence. “Balancing the budget is not hard. Determining what programming to eliminate in order to maintain the Paramount brand is what is difficult,” stated Jonathan Hylton, President of the Aurora Civic Center Authority.

Adding to the turmoil, the city has replaced five board members of the Authority, a decision that was communicated via a Facebook post, further signaling the administration’s shift away from supporting the arts. During a time when many are calling for continued support for the Paramount, some council members, including Ald. Carl Franco, are advocating for a referendum to reconsider the city’s governance structure, which could impact future funding decisions.

Despite these hurdles, the Seinfeld gala is nearly sold out, with ticket prices reaching as high as $400. Rater emphasized the significance of the event, noting that it not only supports the theatre but also boosts local businesses, which saw an influx of approximately $23 million from theatre patrons in 2024.

As the community rallies behind the Paramount, officials are urging for renewed discussions on funding. Rater remains optimistic, believing that the theatre can continue to be a pivotal part of Aurora’s identity and community pride. “With Tim at the helm,” Hylton stated, “we can find the best solutions to continue with our mission to make the arts inclusive and ensure there is something there for our community to be proud of.”

The outcome of the city council’s budget vote will be critical in determining the future of the Paramount Theatre and its role in the cultural fabric of Aurora. As discussions unfold, the community watches closely, hoping for a resolution that will keep their beloved theatre thriving.