The Dunedin City Council plans to set aside $5 million for any potential work needed on the Sammy's building.
In its draft 10-year plan, the council has included a draft budget for the historic venue in 2021 as a placeholder.
The budget will require confirmation through a feasibility and business case study, the cost and funding of which is yet to be determined.
In February, the council announced it had bought the 121-year-old building for $128,000.
Since then a seismic assessment found it to be a considerable risk to the public during an earthquake.