Paramount Theatre Faces Funding Crisis Despite Seinfeld Gala Success

BREAKING NEWS: The Paramount Theatre in Aurora is grappling with a severe funding crisis, just as it prepares to host a highly anticipated fundraising gala featuring legendary comedian Jerry Seinfeld in January 2024. Despite the excitement surrounding this event, which has nearly sold out, the city’s proposed budget for 2026 shockingly includes no funding for the Paramount, leaving its future in jeopardy.

UPDATE: Officials have confirmed that the Aurora Civic Center Authority, which oversees the Paramount Theatre, received zero funding in the new city budget, a significant blow after previous discussions indicated a potential allocation of $2.5 million. This unexpected funding cut follows a pattern of budget constraints that have already led to layoffs and program cancellations at the theater.

The Grider family, who are passionate supporters of the Paramount, purchased not only tickets to the Seinfeld show but also a sponsorship to help raise funds for the struggling theater. Bruce and Linda Grider, residents of Oswego, are among many local patrons concerned about the theater’s future, emphasizing the cultural and economic importance it has brought to Aurora.

“There’s a different feel now,” said Linda Grider, reflecting on the community’s sentiment. “I hate to lose what has been built.”

Officials at the Paramount are alarmed by the city’s decision. Tim Rater, President of the Paramount, expressed his frustration, noting that securing marquee performers like Seinfeld requires immense effort and finesse. “For every act you get, there are 25 you don’t get,” Rater stated, highlighting the challenges ahead.

Adding to the tumult, Aurora Mayor John Laesch announced the replacement of five board members from the Aurora Civic Center Authority, a move that many saw as abrupt and poorly communicated. Rater commented on the mayor’s lack of understanding of the theater’s value, stating, “Balancing the budget is not hard. Determining what programming to eliminate to maintain the Paramount brand is what is difficult.”

The mayor defended his administration’s budget decisions, stating that the city faced a significant shortfall and that reliance on COVID-19 relief funds had created unsustainable practices. However, Rater reported that the Paramount attracted over 630,000 patrons in 2024, with 83% coming from outside Aurora, contributing around $23 million to the local economy.

Alderman Carl Franco has been vocal about the budget cuts, suggesting that the council should reconsider the mayor’s approach. He raised concerns about partisanship in the city’s governance and called for a referendum to evaluate the current leadership structure, which could impact the future of the Paramount Theatre and its planned City of Lights Center.

Despite these challenges, the Seinfeld gala is poised to be a significant success, with tickets priced up to $400 and a handful of $800 gala reception tickets still available. This event could provide a much-needed boost for the theater, but questions remain about long-term sustainability.

As the situation develops, the Paramount Theatre’s leadership remains hopeful. Jonathan Hylton, Board President of the Aurora Civic Center Authority, believes in finding solutions to preserve the theater’s mission and its role in revitalizing downtown Aurora.

“Tim is at the helm, and we can find the best solutions to ensure there’s something for our community to be proud of,” Hylton stated.

With the Seinfeld gala on the horizon, the community anxiously awaits to see if it will be enough to turn the tide for the Paramount Theatre amid a backdrop of uncertainty and financial strife. As the urgency grows, Aurora residents and theater supporters alike are calling for action to secure the future of this vital cultural landmark.