Quality of Place + Quality of Opportunity = ArtPlace
Submitted by Steve on September 17, 2011
Carol Coletta, Director, ArtPlace writes for the NEA's Art Works blog:
In record time, ArtPlace announced its first round of grants, investing $11.5 million in 34 locally initiated projects in cities from Honolulu to Miami.
ArtPlace will also be supported by a $12 million loan fund capitalized by six major financial institutions and managed by the Nonprofit Finance Fund. Participating institutions are Bank of America, Chase, Citi, Deutsche Bank, MetLife and Morgan Stanley. To some, the timing of ArtPlace may seem counterintuitive. More money for art and design in a challenged economy?
Well, yes. That’s the point.
If you think about it, every community has artists and designers. They are an asset, usually a grossly undervalued asset, for kickstarting momentum in our communities. And in this economy, it’s hard to imagine why any community wouldn’t deploy every asset it has for success.