The Whistler Film Festival Society (WFFS) has launched a feasibility study to find out more detail on what its plans to renovate the Rainbow Theatre might cost.

Initial estimates put the proposed project at $1.5 million, and the society is planning to apply for a $750,000 grant from Canadian Heritage. Last week, Whistler council voted to support further exploration of the overhaul proposal. The grant application has to be submitted by the municipality as the owner of the building.

The renovation project would turn the Rainbow Theatre — Whistler’s first movie house — into a state-of-the-art digital facility complete with digital cinema projector, Dolby sound system, a new screen, new seats and an overhauled lobby area, said Shauna Hardy-Mishaw, Whistler Film Festival Society’s executive director.

“It would be one of the first in Canada of this nature,” she said. “It’s a really exciting opportunity.”

Built in 1985, the 300-seat Rainbow Theatre has become an underused community asset, Hardy-Mishaw said. It’s currently used only about 20 days per year.

“It’s in disrepair,” she said. “It’s in such a state that we’ve chosen this year not to use it for any films.”

Whistler Film Festival Society members approached Tourism Whistler (TW) officials, who operate the theatre, in early 2008 about the possibility of renovating the theatre to make it more functional for both the festival, business and tourism uses, Hardy-Mishaw said. An agreement between the two groups is in its final stages.

A grant application was submitted last year, but the grant program has since been scrapped, then reinstated — making a new application necessary, she said.

If a grant is awarded and society fundraising efforts successful, the hope is to have the theatre reno complete in time for the film festival’s 10th anniversary in December 2010, she said.

The society would likely use the updated theatre about 60 days per year for the festival, its Forum industry conference, training labs and screening series, leaving it available for business, tourism and community use the rest of the year, Hardy-Mishaw said. There is no cost to TW for the upgrade project, but the renovated theatre would be part of TW’s space rental offerings — a win-win for everyone, she added.

About $150,000 has been committed from donors to the project to date, including $50,000 to go towards a digital projector from the Whistler Blackcomb Foundation. Naming rights are being sold for just about every aspect of the project, including individual theatre seats.

The society’s fundraising goal is $2.5 million by December 2010 for various projects including the Rainbow Theatre overhaul and a new advanced training institute for film and TV professionals in Whistler, Hardy-Mishaw said.

“We need to decide if we’re going to be the little festival that could or the little festival that is,” she said of the society’s goal for the Whistler Film Festival to be one of the top 10 in the world.

More details on the Rainbow Theatre proposal and the results of the feasibility study will be presented to Whistler council at its Dec. 15 meeting.

Meanwhile, the ninth annual Whistler Film Festival is coming up Dec. 3 to 6 with more than 80 films, special events and parties. Visit www.whistlerfilmfestival.com for more information on the festival and fundraising campaign.