Project Financing

In Ontario, the majority of cultural building projects are funded through a combination of capital fundraising and federal, provincial, or municipal government grants.

Private sector support from developers is sometimes possible through development incentives that municipalities give property developers to include community benefits such as arts spaces in their projects or to provide funds that may be applied to the improvement of arts spaces.  In Ontario, these are called Section 37 benefits.

On occasion, organizations turn to financial providers such as banks, credit unions and Infrastructure Ontario’s Loan Program for financing, particularly short-term and bridge loans to help manage cash-flow during construction and to spread the cost of major additions over a longer period of time.

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