Petersfield's much-loved Festival Hall is under increasing pressure from tight budgets, changes to parking charges and increased competition.
But this week prominent figures in Petersfield leapt to the defence of the community facility, widely regarded as one of the best in the region.
Former town mayor and chairman of the town's museum John Holt said: "There is no excuse for penny pinching as far as the Festival Hall goes".
It was a view echoed by town councillor George Watkinson, who said: "It has cost us money over the years but it is money well spent. If we let it go, it could be the beginning of the end".
The hall stages a huge range of amateur productions, arts and crafts exhibitions and charity events.
It is also home to the town's music festival, from which it takes its name, and has hosted many high-profile public meetings.
But maintenance and improvement work could be slashed as its cash-strapped owner, Petersfield Town Council, look to cut back spending.
And changes to parking charges, under review by East Hampshire District Council, could have a huge impact on the viability of holding events at the hall.
Currently car parking is free after 6 pm, but one idea on the table is to start charging in the evenings.
If that happens it will have a huge impact on theatre and concertgoers who use the adjacent Festival Hall car park.
Added to all this, the hall faces increased competition from alternative venues in the town.
This week the town council's public halls committee was forced to ditch planned improvement and maintenance work at the hall in a bid to avoid massive tax hikes.
Plans to decorate meeting rooms and backstage areas, as well as improvements to wooden floors and toilet facilities, were all axed from the first draft of the budget. And carpet cleaning throughout the building could also go if more savings are required.
And the committee was acutely aware of external pressure when it proposed a five per cent increase in charges for all its halls next year.
The committee chairman, Ken Hick, said: "I would think it reasonable to apply a five per cent increase to our charges".
But he added: "We have to bear in mind other facilities coming on line such as The Studio at the school. I know one society has already booked it. It is a balancing act and you do not know you are over the top until you are over the top".
After the meeting Mr Hick told The Herald that the hall was facing both internal and external threats.
"We have enough problems without the additional problem of having to pay to park or facing fines because charges have changed," he said.
"Our aim is to make Petersfield a place that welcomes visitors and we need all the help we can get."
And he added the importance of the Festival Hall must not be underestimated.
"This hall has always been at the forefront in the south of England for its facilities and what goes on there.
"It is is used by all sorts of groups. People come together with a view to doing something, and the Festival Hall encourages that talent within the community," he said.
Councillor George Watkinson added: "If people are in two minds whether to go to see something or not, the thought of paying to park will tip the balance.
"All societies are feeling a bit of a pinch and audience numbers are not growing. Most of the groups have reached a plateau."
And he added that if the hall was not kept up to scratch it could be the "beginning of the end".
"Who wants to use a facility that looks dirty and crumbly? It has to be painted every so often. When I was mayor I went to events when people from outside Petersfield were amazed at what a superb facility it is. If we let it go what has Petersfield got? Nothing."
Mr Holt said introducing evening car parking charges was "bound to affect everything to do with the Festival Hall".
EHDC's report into its review of parking charges is due in December.