Patterson Foundation Backs The Bay with $5 Million Investment
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THURSDAY MAY 23, 2019 |
The Patterson Foundation will contribute up to $5 million for operations and Phase 1 of The Bay’s master plan—a multi-year journey to transform 53 acres of Sarasota’s bayfront into a public park that is free, open and welcoming, while offering fitness, health, cultural, recreational and educational activities and events.
Following an initial $2 million contribution, The Patterson Foundation will make additional $1 million investments each time private philanthropy contributes $5 million toward Phase 1 and The Bay’s 2019-2022 operating budget—a combined budget of $20 million. Phase 1 will bring the first round of enhancements, and result in the creation of a 10-acre community park stretching from U.S. 41 to the bayfront along Boulevard of the Arts.
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