The authority is moving toward funding the groups from a fiscal-year to a calendar-year schedule.
The nine groups are classified as lead assets by the authority, which administers grants from part of the estimated
Here is how the money was distributed:
The cultural, historical and entertainment nonprofits can use the money for any operational purposes, including capital improvements, equipment purchases, technology upgrades and personnel.
"We continue to single out these groups as important lead assets to the community because of the economic development results that they provide, not only in growing the creative class workforce, but they also bring people in from the outside and contribute to tourism," Wood said.
The zoo also stays open three hours later on Wednesdays in July, until
Some of the authority money in 2013 was used to fund part of the new leopard and lynx exhibit now under construction, Mitchell said. That
"The important part of this for us, and for all the assets, is (financial) stability," Mitchell said. That stability allows the zoo to offer new programs and hire staff, he said.
Wood said the amount the groups received Thursday is the same as they've been getting every six months since funding began in
The money comes from an ECGRA account, but future annual distributions are expected to be drawn from an endowment. The authority put nearly
The authority could start drawing down from the endowment sometime in 2015 for the lead assets grants, but that could be a blend of endowment money and ECGRA account funding, he said. Eventually, the authority plans to award grants to lead assets entirely from interest earnings on the endowment, Wood said.
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