MU deserves a round of applause for its latest deal with downtown Columbia — and now, we have a new auditorium where that applause can take place.

It was announced Thursday that the university struck a deal (and gold) in which for the next three years it will pay $12,000 a month to lease and manage the Missouri Theatre, located in the heart of downtown Columbia. The money to pay for the Theatre is coming from the campus rental account, rather than straight from our pockets.

What this means is that although the Missouri Symphony Orchestra and others will still have offices within the Theatre, we now have extra space for any events previously held in Jesse Auditorium — think the University Concert Series, Greek Week, commencement and Summer Welcome, to name a few. Jesse Auditorium hosts an average of 230 events per year — more than its schedule can fit.

Now for a bit of history on the Missouri Theatre. Through good and bad financial times, the theater has sat in the same place since 1928. In that time, it has become a symbol of downtown Columbia. It had some major renovations in 2008, only to briefly shut its doors in August 2010 due to financial turmoil. When it reopened in February, financial troubles continued to plague the Missouri Theatre, and its owners were looking for options to save the sinking ship.

We’re happy about this deal for two reasons. First, hats off to MU for working with Columbia (maybe a collaborative decision like this could ease the [bus route problems?](https://www.themaneater.com/stories/2011/8/23/students-community-members-should-voice-their-conc/)). Second, the deal is going to save us a hell of a lot of money.

A 1,000-seat concert hall is in the plans for the slated Performing Arts Center. The Missouri Theatre’s venue seats 1,216. The UM System Board of Curators requested $80 million from the state to build the center, and let’s be frank: That will never happen. Purchasing the Missouri Theatre will only cost $3.7 million. In a time when state funding is nearly impossible to come by, saving $76 million doesn’t seem too shabby.

A [major fundraising campaign](https://www.themaneater.com/stories/2011/6/1/upcoming-campaign-centers-new-performing-arts-cent/) began its “quiet phase” July 1, and one of its main benefactors was going to be the Performing Arts Center. Now that the need for the center might have been eliminated, this money can be dispersed elsewhere. What about the [30 other buildings](https://www.themaneater.com/stories/2011/3/11/campus-buildings-deteriorate-funding-runs-low/) that need some pretty drastic renovations?

So, MU, we hope this is just the first act in the Missouri Theatre production that concludes with the purchase. Don’t let the curtains fall on this one.

For now, though, you’re getting a standing ovation.