TO: CRA Board of Commissioners
FROM: Joan K. Goodrich, Economic Development Director
THROUGH: Jeff Costello, CRA Executive Director
DATE: June 11, 2018
Title
OLD SCHOOL SQUARE - 2nd Quarter FY 2017-18 A-Guide Report
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Recommended Action:
Recommendation
Receive and file.
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Background:
The CRA awarded Old School Square (OSS) a $600,000 A-GUIDE grant in the CRA FY 2017-2018 budget which represents 16% of OSS’s $3,674,890 budget. The CRA also provided OSS an additional $300,000 this year to replace funding typically received from the City for a total funding of $900,000 represents 24% of OSS’s budget. The A-Guide grant was awarded to support two programs: 1) Performing Arts Program (Program A) and 2) Grassroots Partnerships (Program B). Below are highlights and program snapshots from Old School Square’s 2Q FY 2017-18 A-Guide Report ending March 31, 2018.
Old School Square Highlights from Rob Steele, President/CEO
See attached letter which points out that OSS is well short of its development goals for the year and their reserves are nearly depleted. OSS will need $240,000 of additional support and they will be taking steps to secure the needed funding.
Snapshot: A-Guide Program Performance - Performing Arts Program
(Broadway, Cabaret, Lecture Series, Outdoor Pavilion Shows and Family Series - Main Stage)
A-Guide Funding: $360,000 Total Program Budget: $2,079,362 % of Budget: 17%
Select Key Program Metrics Annual Total 2Q Totals Year to Date Totals
Total # of Shows 19 11 15
Total Number of Attendees 8,850 4,652 7,279
Total Show/Donor/Sponsor Revenue $415,150 $94,875 $363,074
Program Snapshot: Business Resource Center - “Inc. Pad”
Snapshot: A-Guide Program Performance - Grassroots Partnerships
(Designed to “open-up” Old School Square and ‘accommodate everyone we can in our community’ including free community concerts.)
A-Guide Funding: $240,000 Total Program Budget: $545,000 % of Budget: 44...
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