General Manager of Uptown Saint John Peter Asimakos says the one year option on the building will be over at the end of November.
He tells CHSJ News since the provincial and federal government have yet to commit any funding towards revitalizing the building, he's not sure if the option will be renewed.
So far only the city has committed funding for the project but that is contingent on Uptown Saint John getting money from the other levels of government.
He says a fundraiser is being planned for the theatre on November 18th and "I Love The Paramount" buttons are currently being sold.
The plan is to turn the old theatre into an arts and entertainment complex.
