Building Reserve Grant will be utilized to offset cost of maintaining CPT campus
Executive Artistic Director Raymond Bobgan announces that Cleveland Public Theatre (CPT) has received a one million dollar grant from The Kresge Foundation's Building Reserve Grant program. The awarded funds will be utilized to offset the cost of long-term care and maintenance of the buildings and facilities on the CPT campus.
Now in its 30th year, CPT serves as the anchor of the Gordon Square Arts District on Cleveland's near west side. The CPT campus at West 65th Street and Detroit Avenue is comprised of four buildings that feature multiple performance and rehearsal venues. The dynamic performing arts center is a hub for original, adventurous and relevant works of performance and is dedicated to cultivating local artists in the creation of new work. CPT engages the community through a bold series of educational programs for urban youth, residents of public housing and homeless adults. The Kresge Foundation's one million dollar grant will allow CPT to continue to thrive as a creator and as an artistic home for hundreds of artists across multiple disciplines.
The purpose of the building reserve is to provide for the replacement of major systems throughout the CPT campus; including HVAC, electrical and roofing. The building reserve will protect and sustain current and future philanthropic capital investments in the theatre.
"The Building Reserve provides a foundation for our strategic approach toward capitalization and will lead to greater stability and growth," says Bobgan. "CPT and all of our artists and collaborating organizations are so grateful to the Kresge Foundation for their support."
CPT is currently in Phase One of a seven million dollar capital campaign - the most significant fundraising effort in the organization's history - to renovate the campus and support its ongoing use. This effort is part of The Gordon Square Arts District, a 30 million dollar collaborative neighborhood-based capital campaign, created by CPT, Detroit Shoreway Community Development Organization, and Near West Theatre. Six million dollars of the capital raised for CPT will significantly improve portions of the Gordon Square Theatre and James Levin Theatre buildings.
Photo by Lynn Icshay courtesy of the Plain Dealer.