Wisconsin Statutes 41.60 – Arts incubator grants and loans
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 41.60
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
(1) In this section:
(a) “Arts incubator” means a facility that provides nonprofit arts organizations or individual professional artists with shared support services and with office, storage, studio, gallery, performance or other work or living space at a lower rent than the market rate in the community.
(b) “Nonprofit arts organization” means a corporation organized under ch. 181, that is a nonprofit corporation as defined in s. 181.0103 (17), for the purpose of furthering the arts.
(c) “Nonprofit business development organization” means a housing and community development authority created under s. 66.1335 (1), redevelopment corporation, as defined in s. 66.1301 (3) (s), redevelopment authority created under s. 66.1333 (3), community development corporation, as defined in s. 234.94 (2), or any nonprofit organization whose primary purpose is to promote the economic development of a particular area or region in the state.
(2) The board may award a grant not exceeding $5,000 to a nonprofit business development organization or a nonprofit arts organization to fund a feasibility study of the need for and the initial design of an arts incubator in a particular region of this state.
(3) The board may award a grant or loan not exceeding $50,000 to a nonprofit business development organization or nonprofit arts organization to fund the initial development and operation of a proposed arts incubator, including equipment purchases, building acquisition and rehabilitation and staff costs, after considering all of the following:
(a) The qualifications of the proposed arts incubator’s management and staff.
(b) The availability and cost of office, storage, studio, gallery, performance or other work or living space in the community.
(c) The support and involvement of local businesses, the local financial community, local governmental units and the local arts community.
(d) The cost-effectiveness of the arts incubator.
(e) The effect of the arts incubator on the local economy and the community in which it is located.
(f) The financial viability of the proposed arts incubator.
(4) At the request of the board, the department of tourism shall assist the board in evaluating proposed projects under this section.