Victoria Hall was once used as a cinema and a concert venue
A Lampeter-based eco group has taken the first step in creating a resource centre for the town.
Transition Llambed has agreed to sign a 20-year-lease for the rundown Victoria Hall.
The charity will take over management of the hall from Ceredigion Council in April 2011.
In its heyday the 19th century building was used as a cinema and venue for rock concerts and dances, but it has seen a decline in use during the last decade.
Greg Evans of Transition Llambed said the charity would now hold a series of meetings to discuss possible projects based at Victoria Hall.
"The hall has been a bit of a white elephant in recent years and we want to convert the building so that it becomes a valuable community resource," he added.
"We can make the hall the centre of the Lampeter community and support new initiatives, services and enterprise."
Transition Llambed was formed four years ago and aims to address the problems of climate change with eco-friendly solutions on a local level.
It will now apply for grants to refurbish the building.
"Any work done on the building will support our ethos, so we will look to install photoelectric cells on the roof and look at installing air source pumps to heat the building," said Mr Evans.
The organisation aims to use the hall as a venue for a local produce and goods market, as well as possible providing a base for the town council.
"We want this to be a flagship project for the Transition movement in Lampeter," said Mr Evans
"This is a huge undertaking for us and we will need the support of the people of Lampeter for it to succeed.
"We already have a committed group focusing on the potential uses of the hall, but we would welcome anyone with time and energy to commit to the idea in whatever way they can."