AURORA, IL — Paramount Theatre's Bold Series will be put on hiatus after the final performance of "True West" Aug. 31 due to budget cuts, executives announced Monday evening.
"This decision was not made lightly," the Aurora Civic Center Authority and Paramount Theatre Board of Directors wrote in a letter. "The Bold Series has been a vital and vibrant part of our programming, offering compelling, provocative, and important work in an intimate setting. We are immensely proud of the stories told on the Bold stage and the artists who brought them to life."
As the City of Aurora grapples with "widespread budgetary constraints," the Aurora Civic Center Authority and Paramount Theatre Board of Directors were advised that their previously allocated municipal support could be reduced by up to 65 percent, though final numbers are not yet confirmed, according to a news release from the organization.
As a municipal corporation, ACCA operates differently than many theaters in the region and does not receive a direct operating subsidy from local property taxes, the Board explained.
Mayor John Laesch countered the information released by the ACCA and board of directors in a statement Tuesday afternoon, saying, "The claim that the City is 'reducing previously committed municipal support by up to 65%' is false. Any financial commitment from the City of Aurora would need to follow the City Council approval process, which was never done."
The Aurora City Council voted in 2024 to allocate no more than $13.8 million to help the ACCA this year, Laesch explained. This included purchasing a parking lot from the ACCA for $10 million to help offset a deficit in the organization's budget, as well as $1.3 million for the costs of constructing the Stolp Island Theatre and $2.5 million for the Fox River Promenade update, he said.
The city also previously allocated $10 million in American Rescue Plan Act funds to the ACCA as a one-time assistance for recovering from the pandemic, according to Laesch.
"With the exception of ACCA's management of RiverEdge Park and its portion of Head Tax from the Hollywood Casino, the organization has never had a budget line in the City's general fund," Laesch said. "I have no plans to cut any existing funding pertaining to ACCA’s services rendered to the City."
According to Laesch, the ACCA requested $7 million from the city for 2026 to cover the expected deficit. The organization "has been running a consistent $5 to $7 million deficit annually (2024, 2025, and projected in 2026 before the cut to the BOLD Series)," he said.
"We have offered a path towards adding a regular subsidy into the general fund for ACCA, but that will take an effective partnership and a collaborative, clear plan towards long-term financial stability," Laesch said.
Paramount Theatre has operated with a commitment to maintain accessibility, offering "pay what you can" performances to help keep ticket prices affordable. And with more than 40,000 subscribers, Paramount Theatre is home to the largest Broadway subscription series base in the county.
"While increasing prices might seem like an easy solution, we believe it would undermine the very foundation of inclusivity of our community that makes Paramount special," the Board wrote.
The theater will reduce its overall programming from 900 to about 700 performances annually, and intends to cancel the Chicago-area premiere of "Covenant" and a new staging of the cult classic "Ride the Cyclone." Show-goers who purchased tickets in advance will be refunded, officials said.
Additional reductions in programming at Paramount Theatre, Copley Theatre, RiverEdge Park and the Paramount School of the Arts might be forthcoming "in the weeks ahead as we work through this fiscal reality," the letter read.
"We know this is disappointing," the Board stated. "It is heartbreaking for us, too. Yet we remain hopeful. The City’s financial outlook and willingness to support our programming may shift in the future, and we are optimistic that — when it does — we will have the opportunity to bring back the Bold Series and other programs that serve our mission and our community so deeply."