Backup — original pdf

Backup

Implementing inclusive and equitable public development services as a non-profit partner to the City of Austin November 1, 2021 Cultural Trust Program Update Austin Cultural Trust Austin EDC Cultural Trust | 2 ....we’re starting! Austin EDC Cultural Trust | 3 Cultural Trust Background and Goals INITIAL GOAL OF CULTURAL TRUST In 2018, the City resolved to support "a community arts stabilization trust, the ‘Austin Cultural Trust’, that creates, through purchase and long-term lease, affordable spaces that supports artists and arts organizations, preserves historic and iconic cultural buildings and spaces for creative and cultural uses, and functions in a way that provides for cultural assets to exist in all parts of the city" - Resolution 20201001-055 In 2020, the City identified “To support acquisition and preservation of cultural spaces within the City of Austin,” as a function of AEDC. - Resolution 20201001-055 Austin EDC Cultural Trust | 4 Program Priorities • Facilitating the acquisition and preservation of existing cultural arts and music venues as well as the creation of new cultural arts and music venues that are affordable and available for use by organizations and the public benefit the City's creative and cultural communities. • Achieve diversity, equity and inclusion, including by addressing past inequities experienced by underserved, under-represented, and marginalized individuals and groups. • Provide permanent affordability for cultural and creative purposes. • Create a sustainable pipeline of Cultural Trust projects as funding sources continue to become available. Austin EDC Cultural Trust | 5 .... considering the project, pipeline, portfolio, and place Austin EDC Cultural Trust | 6 Initial Program Summary-Clarification UPDATE Current Cultural Trust Funding: To advance acquisition, bricks & mortar projects for permanent affordability Creative Facilities Bond 12 M Iconic Venue (HOT) COA Budget Stabilization (HOT-Iconic Venue Fund) 2.4 M 2.5 M Projects that support the preservation, restoration, acquisition, construction, improvement, enlarging, equipping, repairing, operating or maintenance of facilities that support the arts/culture and music Projects that provide a value to tourism, demonstrate need for assistance to avoid loss of venue, interest in serving as an iconic tourist business success. Austin EDC ELIGIBLE USES FINALIZED IN PROJECT DUE DILIGENCE Cultural Trust | 7 RFP Structure Summary Competitive RFP to fund two types of projects as a first initiative EXISTING OPERATOR VENUE ACQUISITION: NEW SHARED SPACE VENUE DEVELOPMENT: Outcome: Acquire venues with associated qualified operators for long-term ownership by the City of Austin for the public benefit of enhanced access to creative facilities Priority: Financial and Operating Capacity Outcome: Provide affordable multi-use space for cultural organizations with a focus on diversity, equity, and inclusion. Priority: Policy Goal Alignment Anticipated outcome: 1-2 existing venues saved Anticipated Outcome: 4-6 organizations sharing 2 AEDC managed spaces Anticipated funding source: Iconic Venue Fund ("HOT") Anticipated funding source: Creative Facilities Bond ("CFB") Austin EDC Cultural Trust | 8 RFP Schedule Release: SOON! (Register now!) Deadline 1: December 17: All organizations submit ▪ ‘Early Decision’—Projects with advanced development and activity ▪ ‘Progress Update’-Projects still in development, with statement of needs/next steps Deadline 2: March 31: Final Deadline for Round 1 ▪ Some ‘Early Decision’ Projects may be asked for additional information ▪ All other projects submit updated information. Austin EDC WORKING SCHEDULE DRAFT-SUBJECT TO CHANGE Cultural Trust | 9 RFP Step 1 - Registration UPDATE Registration: http://www.austinedc.org/cultural-trust ▪ Contact information ▪ Selection of ‘track’—Existing or New Venue, Just interested ▪ Brief paragraph of project and goals ▪ Identification of basic Technical Assistance needs, if any ▪ Anyone who has applied for funds through ‘Submittable’ before (Long Center/Saves)—same log in All Registrants intending to apply will receive an online application invite, and updates to all scheduled technical assistance sessions. RFP will be available on project website for other interested parties. Austin EDC Cultural Trust | 10 Questions? anne@austinedc.org https://www.austinedc.org/cultural-trust Austin EDC Cultural Trust | 11