In response to the growing financial needs of the cultural community, former Mayor John F. Street initiated an effort to identify sustainable funding for the arts and cultural sector. From his work with civic and cultural leaders in various arts and cultural projects, the former Mayor had seen a great need for added resources to improve Philadelphia’s cultural facilities and he determined that it was essential for the City to invest in these treasured institutions if we are to see our City continue to thrive and grow.

With the enthusiastic support from City Council, the Commercial and Cultural Corridors Bond Issue (Bill #060692) was approved in November, 2006. It authorized the borrowing of $150 million in bond proceeds. Approximately $65 million of these funds will be distributed as grants to meet the critical capital needs of the City’s cultural institutions. A $60 million Cultural Corridors Fund will support capital projects for City owned institutions, public amenities and other organizations that promote City objectives within five cultural corridors: Avenue of the Arts; Ben Franklin Parkway; Historic District; Centennial District; and El Centro de Oro and other emerging corridors. The $5 million City-wide Capital Grants Fund will be available for capital projects of eligible organizations through a competitive grants process.

Capital grants offer support for the improvement, expansion, or rehabilitation of existing buildings owned or leased by nonprofit cultural institutions. Grants will range from $10,000 to $250,000.