|The arts drive vibrant and diverse communities and are critical to neighborhood health and well-being. Pictured here is Jen Lewin Studio's "The Pool" at Lafayette Square, New Orleans. Photo credit: Marcus Alfred.|
, Rainin Foundation Director of Arts Strategy and Ventures, said, "This model is a game changer for protecting our most valued arts and cultural assets, and we're eager to share it with other communities."
Trott described CAST's role this way, saying, "CAST freezes the cost of real estate when it purchases property, carving out an alternative market for nonprofit arts and culture organizations. When a cultural organization buys a property seven to ten years after it's purchased by CAST, it pays the original purchase price."
CounterPulse Artistic Director said, "Our partnership with CAST has enabled our organization to build capacity and contribute to the neighborhood's vibrancy without the threat of displacement. With an additional outpouring of generosity from people and businesses in that recognize the value of the arts, we are truly elated to have a permanent home to create art with and for our community."
agrees, "When we cement the valuable presence of artists and cultural spaces, the entire city benefits. We hope fellow funders, city governments and arts organizations are inspired by our success and explore our website to learn how their communities can leverage this strategy."Kenneth Rainin Foundation is a family foundation that collaborates with creative thinkers in the Arts, Education and Health. At the Rainin Foundation, we believe in taking smart risks to achieve breakthroughs. We support visionary artists in the Bay Area, create opportunities for Oakland's youngest learners, and fund researchers on the forefront of scientific discoveries.
Since 2009, the Foundation has awarded over $20 million in funding to support small to mid-size arts organizations in the Bay Area that are pushing the boundaries of creative expression. More at krfoundation.org.