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TIDA told it has $3.6M in accrued art fees but needs new revenue for future installations; board directs staff to seek surplus funding
Summary
The Arts program update showed $3.6 million in accrued art fees and $4.3 million in prior expenditure authority; board members urged the authority to preserve surplus funds to support art installations and moved a directive for staff to seek and preserve savings for art projects.
TIDA’s arts program steering committee and Arts Commission staff reported to the board that the island’s 1% art fee (payable on issuance of vertical building permits under the DDA) has accrued $3.6 million to date, while earlier budgets established $4.3 million in continuing expenditure authority. Staff warned that the pending Cityside Park installation, Canopy of the Sky by Ned Khan, will exhaust accrued funds once final installation costs are accounted for.
Bob Beck and Arts Commission staff…
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