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Westfield nonprofit unveils Rialto reimagining, seeks NJEDA tax-credit grant and local backing
Summary
The Westfield Arts Collective presented renderings and a fundraising plan to the Town Council for the 100-year-old Rialto Theater’s conversion to a flexible arts center. The group said it has a $5 million lead donation, aims to raise roughly $25 million more, and plans to apply to the New Jersey EDA's CAFE tax-credit program.
The Westfield Arts Collective unveiled conceptual renderings and an initial financing plan for a proposed Center for Creativity at the Rialto during the Westfield Town Council meeting, and asked the council for letters of support as the nonprofit pursues a large state tax-credit grant.
Bill Crandall, president of the board of the Westfield Arts Collective, told the council the project would convert the 100-year-old Rialto Theater into a flexible arts hub for film, live music, classes, a cafe and gallery space while preserving the building's marquee and street-facing character. "We are creating a home for our community to create, showcase, and enjoy the arts," Crandall said.
The presentation laid out the nonprofit's fundraising progress and timeline. Crandall said the group received an anonymous $5,000,000 donation in 2021, and that the organization's current target is "upwards of $25,000,000" in additional funds to realize the full project. Curti (a presenter with the group) described plans to open a limited portion of the building for pop-up events this summer to raise awareness and test programming.
Why it matters: The nonprofit seeks to use a state-administered tax-credit financing tool to accelerate construction. Winning award and monetizing that instrument would affect whether the project can proceed as designed, and the presenters asked the council to demonstrate local support as part of the grant application process.
How the grant route would work: Crandall and a presenter…
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