JONESBOROUGH, Tenn. -

Jonesborough may soon renovate an old movie theatre on Main Street to provide a larger venue for live programs.

The old Jaackson Theatre sits centrally in the Downtown district. The Appalachian Regional Commission has committed verbally to $450,000 to purchase the property, but renovations will have to take place.

The town wants to have a larger place to hold events in the evening hours according to town manager Bob Browning. "Most tourism dollars are spent after 6 p.m., whether they're spending the night, at a restaurant, or something like that," he said. "The Jackson Theatre provides us with a real opportunity of greatly enhancing the kind of activity that might be going on in Jonesborough after 6 p.m."

There's no timeline yet on the process.

The town has a verbal agreement with the property owner, but is awaiting paperwork from the Appalachian Regional Commission.