A rendering of The Bay

A rendering of The Bay

The Bay Park Conservancy (BPC), the non-profit organization responsible for overseeing the development of 53-acres of city-owned land along Sarasota’s bayfront into a public park, has reached another significant milestone. A $5 million match challenge from The Patterson Foundation helped catalyze support to raise the initial $20 million funding goal from private sources, including including major foundations, family foundations, individual philanthropists and citizens. In addition to private funding, the City of Sarasota and Sarasota County recently approved a cooperative funding agreement with TIF financing that could provide as much as $200 million over the next 30 years. The TIF could finance a substantial portion of the new park and a new performing arts center in the park. Additionally, multiple grants at the regional, state, and national level will supplement the private and city/county funding.

Filed under
Share
Show Comments