For five years now, one of the best all-ages indie music venues around has been located inside a Roseville church.

But The Underground, a project of Valley Springs Presbyterian Church at 2401 Olympus Drive in Roseville, won’t be returning for an encore following a June 28th megashow that’s slated to send the place off in style.

The church confirmed last week the concert venue and coffee bar will shut its doors, after being stung by unforeseen sound equipment costs and insurance issues.

“Our sound system, speakers and amps are out,” said booking agent Marie Scanlon. “We’ve been renting equipment every weekend and then our soundboard blew out too, and it’s too expensive.”

The news has sent a shockwave through the area’s music community. On The Underground’s MySpace page (5,336 friends and counting), sad smileys prevail: “im gonna cry,” writes one poster. “i cant believe your closing =[”

Anthony Sarti, bassist and programmer for the Sacramento-based band Eightfourseven, which has played The Underground, called the venue a positive and safe environment that was always welcoming.

“It was one of the last all-ages venues in the area,” Sarti said. “I think they were trying to do more than they really could, which was probably the problem.”

The Underground quickly became popular with local and national touring indie acts, even playing host to pop boy-band The Jonas Brothers and critically acclaimed singer-songwriter Matt Kearney.

Though a part of the church, The Underground exercised a light touch on spiritual matters. Acts are asked to refrain from foul language and playing shirtless (though an exception is made for male drummers), and religious guidance is available but not required. A nonprofit organization, a portion of the proceeds goes to Christian charities.

The final show will feature FFG, Mozart Season (K Sera, Consider the Thief, Flight 409, 5 Days Dirty, Grenade Jumper, Astoria). Tickets are $16, available at www.undergroundroseville.com.

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On the horizon?: For Downtown armchair quarterbacks, what to do with the 238 Vernon St. – the former J.C. Penney building, which has sat empty for the past three years – is a favorite topic. For one thing, there’s its location (smack dab in the Downtown milieu) and size (16,500-square-feet; a nice chunk of real estate suitable for a number of uses). All of which contributes to a sense that a stellar tenant there could be a game-changer for the district. Think Basic Urban Kitchen + Bar, which is bringing a level of excitement to nearby Old Town that hasn’t been seen for decades.

Now, with the city’s sale last week of the building to Roseville’s KMS Development LLC, it looks like things might finally get rolling.

Stephen Pease, a KMS partner, says he’s talking with a potential tenant, who could bring a restaurant to the building. Certainly Pease has a notable track record, having been involved in redevelopment efforts along Del Paso Boulevard in Sacramento, including the project that brought ultra-hip, San Francisco-based modern furniture retailer Limn to that area.

But why should developers have all the fun? Biz Buzz, which is old enough to remember when the Antique Trove occupied 238 Vernon (but not old enough to remember its J.C. Penney days), wants to hear what ideas Roseville residents have for the building. Got a suggestion for a restaurant concept? Does a boutique hotel/bed-and-breakfast strike your fancy? Housing on top? Would a proven chain outlet (a Starbucks/Jamba Juice combo, perhaps?) get Downtown humming? How about an art gallery?

Just as important: What would you definitely not want to see occupy the space?

Ground rules: Ideas should conform to the city’s desired use guidelines, which stress enhancing property values, helps create a “vibrant” downtown, provides needed amenities and encourages further quality development.

Send thoughts and rants to nathand@goldcountrymedia.com, along with your name, and we’ll include some of the most interesting responses in an upcoming Biz Buzz.