The Lansing Economic Development Corporation has established a $100,000 loan fund for Lansing's non-profit art and cultural organizations.
“The new economy wants a sense of place,” says Lansing Mayor Virg Bernero, who suggests that supporting the arts community gives the creative class access to the arts and culture opportunities they seek. “Arts and cultural infrastructure is also critical to really vibrant cities.”
The organizations receiving the loans will have to pay back the loans in full. The matching loans require the receiving groups to raise funds equivalent to the loan amount.
“We think this is a more effective way to fundraise,” says Bob Trezise with the Lansing Economic Development Corporation.
Lansing has more than 100 arts and culture groups. The city anticipates that the loan program will fill the funding gap among non-profit arts and cultural outfits.
Source: Randy Hannan, City of Lansing
Ivy Hughes, development news editor, can be reached here.
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