ONE of Liverpool's most historic cinemas has been thrown the key to a potential £10m lifeline that could see it demolished and rebuilt as an arts and cultural centre.
Trustees at Crosby's community-run Plaza cinema have been searching for funds to save the site since a lottery deal fell through last year.
Now the Northwest Development Agency has awarded £100,000 to pay for detailed architect's drawings, after Sefton council submitted plans.
A further £5m of NWDA funding has been earmarked if the project fits the right criteria.
An additional £3m to £5m is being sought from elsewhere including European cash.
The initial £10m plan includes completely rebuilding the crumbling 65-year-old cinema as an arts and cultural centre, on the site of Crosby's library and civic hall.
The existing cinema, which stands on the opposite side of Liverpool Road in Waterloo, would be replaced with affordable social housing.
Building work could begin next April and the centre is expected to open by Christmas 2006.
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