Financially-struggling Paramount Theatre will get a new lease on life after successfully negotiating a $2 million lifeline from the City of Aurora for 2026.
According to a press release issued by The City and the Aurora Civic Center Authority (ACCA), which manages Paramount Theatre, Stolp Island Theatre, RiverEdge and other events, the two have reached an agreement on operating support of $2 million in 2026, ensuring ACCA can continue running its four live performance spaces throughout downtown Aurora, as well as the Paramount School of the Arts.
The agreement, brokered in partnership between the Mayor’s Office and Paramount Theatre leadership, provides ACCA with a one-time “off-ramp” payment of $2 million. This support will allow programming to continue uninterrupted while ACCA continues to secure new avenues to return to fiscal stability and a self-sustaining business model for the future.
“This agreement reflects true partnership and collaboration,” said Mayor John Laesch. “The City’s 2026 budget presents significant challenges. I appreciate the efforts of Paramount Theatre leadership as they worked to streamline their budget, just as all City Departments did during our budgeting process. Many difficult decisions were made, and I am proud that we were able to develop a collaborative solution. For many years, the Paramount Theatre has been a cornerstone of pride in Aurora’s downtown, and we want to see it continue to flourish.”
“The Paramount Theatre and the City of Aurora have always shared a strong partnership,” said Tim Rater, President and CEO of the Paramount Theatre. “For years, we have built on each other’s successes, helping to revitalize the downtown area. This agreement allows both ACCA and the City to continue progressing together while maintaining a financially sustainable future. We truly appreciate the Mayor and his team working alongside us to find this support, and we look forward to working together to continue to evolve this amazing City.”
