Owner Mario Caira has applied for a certificate to use the Ambassadeur Snooker Club in North Street as a nightclub.
The East Fife Mail revealed the plans back in June, which include a dance floor, suspended ceiling and bar.
At the time Mr Caira stressed he was simply researching future options for the building, which would continue as a snooker club for the foreseable future.
He said: "Snooker is past its heyday and we are looking at alternatives at the moment.
"Obviously if we were to go ahead with the nightclub option it would be open to different hours, but from my point of view there's not much to say because there's nothing set in stone."
The non-listed Art Deco 1938 building was formerly the Troxy Picture House and has been owned by Mr Caira since 1996.
If Fife Council grants him permission, the Ambassadeur could be Leven's first nightclub in the heart of town since the Lighthouse was torched in the mid-80s.
Local resident Annette Moyes (67) commented: "If we have to suffer what we suffered with The Lighthouse I wouldn't be happy – the fights we used to watch through the window!"
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