If I had the space...
If I had the space, I would use it for music.  I'd have a reasonable sized room partitioned in half  by a wall of soundproof glass.  One side would be for the band, with a small room for the drummer.  Using XLR inputs threaded through to another room, the computers would sit ready with Logic Pro 8 or 9 for "Apple" or Cubase 5 or 6 for "Windows" - the music could then be recorded.  Another useful programme would be Sibelius 5 or 6 which is a composing programme.  There would also need to be a 24 channel mixer as well as a range of microphones etc.  There would also be a need tor decent amplifiers for the electric instruments and perhaps an electric piano/keyboard and inbuilt standard drum kit as they are difficult to move around easily.

How would this benefit the Community?.....
The space would be available for the dozens of musicians around the area who want to practice or record to be able to rent it out, which would be a source of income for the business as a whole.  I could also use the space to teach various instruments, as could other musicians in the area.