The fate of Founders Theatre remains in the balance while Hamilton City Council asks the public for their thoughts on what to do with the building.
But the possibility of the site becoming the new regional theatre is off the table.
Founders Theatre in Tristram St's Boyes Park was closed in March 2016 due to health and safety concerns and in July 2016 the theatre was also found to be an earthquake risk.
The council will consult the public on three possible options for Founders - complete demolition, partial demolition and re-use, or reinstatement for community use.
Former Hamilton Mayor David Braithwaite is fighting to have the new theatre built on the Founders site. On Saturday morning he is speaking at a Hamilton Residents and Ratepayers Association meeting about what he wants to happen.
Mr Braithwaite told Hamilton News the Founders Theatre site has much better access and better parking.
"The city council also already owns this land, compared to the new site," Mr Braithwaite said.
Mr Braithwaite wants the green belt of Hamilton to be a place of sports and art with FMG Stadium and Seddon Park already either side of the theatre.
The option to refurbish Founders to being a fully operable community theatre has been discarded by council due to the estimated cost of $19 to $23 million.
While the council has not specifically ruled out Founders as the new regional theatre site it has agreed in principle to go ahead to accept the design and location of a new regional theatre in the CBD.
The council voted 9-2 in favour of the decision, with councillors Gary Mallett and Geoff Taylor against approving the three options.
During discussion, suggestions about what to do with the site ranged from an outdoor theatre to a Founders central park.
Councillor Taylor said that the council should just get on with building the new regional theatre before dealing with Founders.
"Can we really afford this? We are about to build something that is $73 millon and I still get reminded every day about Claudelands - that was $68 million," Cr Taylor said.
"I do not think we should be teasing people with the idea that the council will contribute with $12 million towards Founders Theatre.
"We are kidding people they can have their cake and eat it too."
Mayor Andrew King wanted the options provided to be broken down in cost so the public would know where their money was going.
"Be really clear so people can break it down and know how it will affect their rates for the three options," Mayor King said.
Councillor Southgate said the history and contributions to those who built Founders should be appropriately remembered.
"Let's get the consultation out to people, but please do not put the consultation out about things that are really unlikely to happen," Cr Southgate said.
"We are looking at new respectful ways for that site to make our city better."
Councillor Angela O'Leary wants the council to keep an open mind with the consultation.
"Community groups have approached me and said gift it to us. We will come up with the money."
"We know the success of the Meteor and Clarence Street [theatres] that it has been done well and there is no hesitation in my mind that there are community groups out there willing to take on this asset," Cr O'Leary said.
Public consultation is expected during October and November.