Depending on the age, may refer to the building or the institution it housed. It's just half a block down the street from the city hall, a fairly modern building from mid sixties, concrete and glass. It is a bit away from the street, with a bit of a flowerbed in front, and pavement in the famous yellow brick, which is the landmark of the city. The monument to the war hero, whose name the city carries (after other two names - one traditional and of unknown origins, the other a short-lived dedication to a king), which once stood on the main square, was later moved here.
The Committee was, of course, the local headquarters of the League of Communists (i.e. The Party). It had mostly a lot of offices on the upper floors, but its main feature is the large hall with a couple of hundreds of seats, which usually hosted large meetings for local high schools, school quizzes ("how much do you know of the history of people's liberation in our area"), folklore shows etc etc. Any Party apparatchik was said to go there to fetch his own opinion.
Later, in the 2000s it became a cinema, which survived less than ten years.
Around 1990, when The Party was disbanded and, in Serbia, merged with the SSRN (an umbrella organization of pretty much all organizations of anything that wasn't necessarily politics) into Milošević's SPS, all the property of both was just taken to belong to SPS. Which then took years to get back to return to the municipalities which built them, including this building. The money SPS lifted renting these buildings, or hosting their own businesses without paying any rent, was never even calculated, not to mention refunded to the municipalities.