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February 9, 2009
From the Westchester Business Journal
The New Rochelle Business Improvement District’s economic development initiative, the BID Downtown Artist Spaces Program, will provide affordable studio space for artists and arts businesses
Through the new program, the BID will help property owners who have long-term, vacant upper floor space, recruit artists interested in leasing studio spaces. The BID secured limited funds for matching grants from the state Housing Trust Fund Corp.’s New York Main Street Program in order to maintain reasonable rent rates.
“Once the BID establishes a critical mass of artists downtown it will work with these artists to help them promote their work and to organize activities to bring the public to Main Street,” said Ralph DiBart, executive director of the BID.“The BID Artist Spaces Program grew out of conversations with downtown property owners and a downtown retail assessment study the BID completed with a New York state grant.”
DiBart said the BID will offer studio rates beginning at $350 a month and an expected 10,000 square feet of vacant upper floor space should be rehabilitated through the program by the end of the year.