Hey-o! Exec Director, here with a little update on our plans to build the holy grail of theater hubs at the old Original Joe’s location in the Tenderloin.
The most recent success is our pre-application approval for the Cultural District Loan Fund (CDLF) that The City is administering! The CDLF is a HUD-backed loan fund with a primary emphasis on financing businesses and development projects that will enhance the area’s cultural arts and entertainment functions. It covers an area of mid-Market and the Tenderloin that we happen to be right smack-dab in the middle of (Taylor and Eddy):
Obtaining a loan for this slice of funding is a key element in the overall funding plan. In the past month we’ve engaged every contact we have in the city and supporting organizations to make sure this went as smoothly as possible. The hard work and hustle paid off. Pre-application approved!
Approval of our pre-application opened up more resources to us and we now have a designated advocate in the city’s Office of Economic and Workforce Development. The city has also hooked us up with a small-business advocate called Urban Solutions, a non-profit organization that helps small businesses obtain loans and grants. They have successfully guided previous applicants towards securing funds from the CDLF, most recently for the new Pearl’s Deluxe Burger at 6th and Market.
We’ll keep you posted on further progress as it comes. We intend to do this a little more frequently as the action around 144 Taylor Street heats up. Stayed tuned for updates and visit our Venue page for the most up-to-date info!
Posted April 5, 2012 at 4:34 pm