Woolton Picture House has announced plans to transform the business before they reopen in 2022.
The Picture House said in September it would be looking to reopen after members of the public helped raise thousands of pounds.
The business previously said in 2020 it would have to shut its doors after being open for more than 90 years.
READ MORE: Man, 65, 'taken for a fool' after thief strips his bank account clean
But the Picture House, now under a new director, has announced plans to transform the venue with additions of a second screen and a function room.
The Picture House hasn't given a date for reopening — but hope the proposed work will ensure the building will "serve the local community for future generations to come."
In a public statement on December 15, it said: "Woolton Picture House is an integral, essential and much-loved part of the fabric of our community and continues to hold a sentimental place in all our hearts.
"We have been so deeply touched and overwhelmed by the affection and very generous support given to the cinema, both over the years and more recently since we closed our famous red doors in March 2020.
"The sense of community spirit and your words and actions of support have been beyond expectation and we would like to thank each and every one of you who have very kindly contributed to GoFundMe page in support of the cinema, especially during such challenging times."
Woolton Picture House added the plans for the reopening of the cinema will be a stepped approach as they want to "preserve and protect the history and heritage of the building."
The statement continued: "Whilst we will ensure that we preserve and protect the history and heritage of the building, it is also essential that works begin to safeguard the future of the building so that it can stand to serve the local community for future generations to come.
"This is not a small task and we will be laying the foundations for the creation of Woolton Picture House as a cultural venue for the community, which will see Woolton Picture House transformed into a venue for the longevity of time.
"Plans include the addition of a second smaller screen, with function room and additional facilities to serve the venue."
Kris Brown, Liberal Democrat councillor for Woolton and Gateacre, told the ECHO he thinks the transformation will be good for the local economy.
He said: "It will offer something greater and more unique than the multiplexes. A really nice area that people think they can feel comfortable going to even without seeing a movie will do wonders for the area.
"It'll also do wonders for the economy and it will give confidence to people that the building is there to stay.
"Since I got elected, it's one of the biggest things that fills my inbox, but it shows how much passion and interest there is in the Picture House.
"A lot of people donated to the community fundraiser and wanted some answers to it."
A GoFundMe donated to by local people hoping to secure the building previously raised over £24,000.
Cllr Brown previously told the ECHO : "The cinema has a moral responsibility to be very open about where this money has gone.
"The re-opening plans are a matter of public interest, people really love the cinema."
Cllr Brown and fellow councillors' Malcolm Kelly and Barbara Mace recently wrote to the cinema asking what the donated money had been used for.
In the letter seen by the ECHO, the councillors asked the picture house to be specific about where the money has gone since the fundraiser.
In it's recent statement, the Picture House said the money had been used to maintain the building and continue the overheads.
It said: "The kindly received public donations have helped to maintain the building and its continuing overheads whilst the cinema has been closed.
"This includes finance, certification, insurances, and general upkeep and maintenance to retain this historic building; all of which are areas which many businesses have struggled with during the pandemic and for this we are very grateful.
"It must be mentioned here, that as custodians of the cinema since 2007, our commitment has always been to supporting Woolton Picture House to be everything it can be; to the community it serves and for the community. This has not changed in any way."
Cllr Brown told the ECHO the statement had given some specific answers regarding where the money had gone.
He said: "We've not known what the full situation is in terms of the Picture House. I think the breakdown of what they've used the money for will give confidence to people that they'll be opening soon."
Woolton Picture House said at the end of their statement: "We look forward to when we will meet again and will be very excited to welcome you all back to Woolton Picture House in 2022 so that you may enjoy the big screen experience in your beloved cinema once again."
Receive newsletters with the latest news, sport and what's on updates from the Liverpool ECHO by signing up here
