District council officials ordered the removal of the ramps on the Recreational Ground last week because they were unsafe.
Now Stamford Skatepark Committee wants to start raising the estimated £150,000 it would need to reopen the facility – and it is calling on Mercury readers to do all they can to ensure it is saved.
Committee member Jenny Wright, 25, of East Street, Stamford, said: "It is such a loss that the skatepark has gone and we want to replace it as quickly as possible.
"We need as much help in raising the money as we can possibly get."
The committee wants to replace the wooden ramps with a concrete structure which will require less maintenance and be more durable. It estimates this would cost about £150,000.
It says the ramps, which were installed seven years ago after fundraising in the town, were a victim of their own success, attracting up to 60 skaters a day.
Members did their best to maintain the skatepark but decided to stop as the wooden framework was rotten. The site is owned by South Kesteven District Council.
Coun John Smith (Con), the council's portfolio holder for healthy environment, and its acting chief executive Beverley Aglass took the decision to close and demolish the skatepark on Thursday last week.
Workers were on site the next day and the ramps were down by Wednesday.
A meeting of the skatepark committee that day, which was attended by Stamford town councillors, was told the district council had said the site would be used for recreational use but would not guarantee a skatepark would be there. Coun Smith said: "Until we have had the opportunity for every member to come together and discuss it I can't really talk about the future."
Committee secretary Sally Jordan, 48, of Roxburgh Road, Stamford, said: "It's not up to us if we have the skatepark or if we don't have it. But this is an important facility in the town and we want everybody to support it."
The town council is fully behind the skatepark committee and is hoping residents and businesses in Stamford will come together to support the fundraising campaign.
The new mayor, Maureen Jalili (LibDem) said: "The skatepark is a much-needed facility for our young people and we need to get a new one in place as soon as possible."
The Rector of Christ Church, the Rev Bob Mackrill was dismayed by the closure of the skatepark and called for district councillors to listen and fund youngsters' needs.
He said of the skatepark: "It is very sad to reflected that in an apparently affluent town like Stamford we are unable to resource such a popular amenity."
The committee is hoping residents will feel able to donate money, hold events, or help write grant applications.
Jenny said: "The skatepark is important to Stamford – to get 60 young people in an evening in the summer proves that there is a need for this facility. Let's provide something for young people to do that is fun and physical."
If you wish to help call Jenny on 07894 571209 or e-mail the group at: stamfordsk8park@yahoo.co.uk
* The skatepark was vandalised hours after it was shut on Thursday night. Youths smashed the ramps and setting fire to a bin.