Duluth, MN (NNCNOW.com) -- The restoration of the historic NorShor Theatre is taking a step forward with recent receipt of letters of financial support from foundation, state, and federal sources.
The funding commitments, in the form of grants and New Market Tax Credits, bring substantial resources to the highly anticipated NorShor restoration project.
Funds are being designated to project partners, The Duluth Playhouse and Sherman Associates, to support construction expected to begin summer of 2013.
“We are extremely pleased to receive these commitments,” stated Duluth Mayor Don Ness. “They clearly show trust in the expertise and partnership of The Duluth Playhouse and Sherman Associates, and our shared vision for the NorShor. We look forward to ongoing progress, and the NorShor once again serving as a vibrant venue in our city.”
The Duluth Playhouse received:
- $150,000 commitment from the Arts and Cultural Heritage Fund through the Minnesota Historical Society. Stemming from the Clean Water, Land and Legacy Amendment, these funds are dedicated to helping make high-quality arts experiences more accessible and available to Minnesotans throughout the state.
- $100,000 grant from the National Trust for Historic Preservation and the John S. and James L. Knight Foundation, allocated to defray costs for the building’s rehabilitation and construction.
Sherman Associates received:
- $10 million commitment in New Markets Tax Credits from the National Trust Community Investment Corporation. Congress established the New Markets Tax Credit Program in 2000 to spur new or increased investments into operating businesses and real estate located in low-income communities.
Posted to the web by Jenna Vogt