TO: CRA Board of Commissioners
FROM: Joan K. Goodrich, Economic Development Director
THROUGH: Jeff Costello, CRA Executive Director
DATE: August 15, 2018
Title
OLD SCHOOL SQUARE 3rd Quarter FY2017-18 A-Guide Report
Body
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).
On June 11, 2018, the Board of Old School Square requested an amendment to their FY 2017-18 Funding Agreement authorizing the issuance of the 4th quarterly payment in the amount of Two Hundred Twenty-Five Thousand and 00/100 ($225,000.00) on or before June 30, 2018. The amendment was approved by the CRA Board and in consideration of the early payment of the 4th quarterly payment, OSS agreed and provided the CRA with a projected budget to actual summary spreadsheet/accounting.
Below are highlights and program snapshots from Old School Square’s 3Q FY 2017-18 A-Guide Report ending June 30, 2018.
Old School Square Highlights from Kim Jones, CFO/COO
See attached letter dated July 31, 2018.
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%
Program 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: ...
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