The former Music Centre in Ballymoney could be transformed into a community hub and tourism facility.
A recommendation was put to members last week to allow Council to engage with stakeholders in order to develop the concept and investigate funding for such a project.
The recommendation was the second part of a proposal, which sought to close the Edward Street Social Centre.
The meeting heard that the Music Centre is under a long term agreement with the Education Authority, but that a number of local organisations had registered their interest in the site for a community/cultural hub.
Members were told that the capital costs for such a project were high, but that the project had the potential to attract external funding, dependent on the findings of the business case.
Corporate Director Richard Baker said that at present Council were unable to establish if they were the title holders of the property.