Project Stakeholders and Potential Supporters

• INTRODUCTION AND OVERVIEW
• GET TO WORK
• FORMING A TEAM
• • Core Project Team
  • Project Stakeholders and Potential Supporters
  • How Does this Artist Space Reflect Your Community’s Voice?
  • Enlisting the Help of Professionals
• ON LOCATION
• FINANCE

Printer Friendly | Further Reading | Sources

Photo courtesy of Watts House Project.

Given the wide ranging impact that Artist Space Development can have on the communities from which it springs, it makes sense that there are a wide range of potential supporters and stakeholders, among them:

• Individuals
• Corporate Sponsors
• Community Development Financial Institutions (CDFIs) 
• Federal Government
• State/Local Government
• Artists
• Art organizations
• Foundations
• Community Developers/ Community Development Corporations (CDCs)
• Other Community Development Entities (CDEs)
• Conventional Lending Institutions
• Limited Partners /Tax Credit Investors/Other Investors

To gain a sense of the scope of support that each stakeholder might offer, please reference this matrix which captures their key motivativations for and methods of supporting ASD. Additionally, many successful ASD projects have employed the use of Tax Credits. To better understand the features of each set of credits and how they might be combined within a particular project, reference the following Data Sheets:

Federal Low Income Housing

State Low Income Housing

Federal Historical Preservation Tax Credit

State Historical Tax Credit

New Market Tax Credit

Further Reading

Hecht, Bennett L.  Developing Affordable Housing: A Practical Guide for Nonprofit Organizations: Chapters 7-10.  New York: Wiley, 1999.

Kartes, Cheryl.  Creating Space: A Guide to Real Estate Development for Artists: Chapter 6.  New York: The American Council for the Arts, 1993.

Sources

Hecht, Bennett L.  Developing Affordable Housing: A Practical Guide for Nonprofit Organizations.  New York: Wiley, 1999.

Kartes, Cheryl.  Creating Space: A Guide to Real Estate Development for Artists.  New York: The American Council for the Arts, 1993. 

Jackson, Maria Rosario and Florence Kabwasa-Green, Urban Institute.  Artist Space Development: Making the Case.  Washington D.C.: Urban Institute, 2007.

Walker, Chris, Urban Institute.  Artist Space Development: Financing.  Washington D.C.: Urban Institute, 2007.

US Department of Housing and Urban Development.  2009.  Date of Access: Oct 30th, 2009 http://portal.hud.gov/portal/page/portal/HUD/

Community Development Financial Institutions Fund.  United State Department of the Treasury.  2009.  Date of Access: Oct 30th, 2009 http://www.cdfifund.gov/what_we_do/programs_id.asp?programID=5

[1] The content for this section has been shaped by: Hecht, Bennett L.  Developing Affordable Housing: A Practical Guide for Nonprofit Organizations.  New York: Wiley, 1999. Chapters 6-10

[2] Ibid, 117-128

[3] Walker, Chris.  Artist Space Development: Financing.  Washington D.C.: Urban Institute, 2007. 89