FOR IMMEDIATE RELEASE
July 19, 2007

Contact: Gregory Liakos, Communications Director 617-727-3668 x343

Update on Cultural Facilities Fund

Earlier this month the Massachusetts Legislature and the Governor agreed to a state budget that allocated $5 million for the Cultural Facilities Fund for the new fiscal year that began July 1. The Cultural Facilities Fund is an initiative of the Commonwealth of Massachusetts. It was created as part of a major economic stimulus bill approved by the Massachusetts Legislature in July 2006 and supported with $13 million in its first year. The goal of the Fund is to increase investments from both the public sector and the private sector to support the sound planning and development of cultural facilities in Massachusetts and strengthen the state's creative economy.

The Cultural Facilities Fund is jointly administered by the MCC and the Massachusetts Development Finance Agency (MassDevelopment). The agencies have received more than $80 million in requests for more than 200 facilities projects. An Advisory Committee appointed by the Governor will recommend projects for funding to the MassDevelopment Board, which will meet in mid-September to consider the requests and make final decisions on which projects will be funded in the coming year.