The future of the Shakespeare Theatre now rests in the hands of 11 people, who will be holding their first meeting on Tuesday night.
The task force will oversee community conversations about what to do with the property.
In a statement, the mayor said given there is such interest in what will happen, they will be as inclusive and transparent as possible and will make sure everyone who wants to be a part of the process is able to be.
The theatre opened in 1955, but the last performance was held in the 1980's.
The cause of the fire is still unknown, but the town's fire marshal said they are not ruling anything out, including arson. He said, so far, they have not found any evidence of accelerants.
Investigators are also working to determine if the sprinkler system was working.
Lawmakers were in the process of securing $14 million to restore the theatre.
The meeting is at 5:30 on Tuesday at Town Hall.