Cultural Capital Fund
Palm Beach County has approved $3 million for the Palm Beach County Cultural Capital Fund. Grants will range from $250,000 to $1,500,000 and will be awarded through a reimbursement format once the approved costs have been verified, documented, and approved. The grant time period (in which the funds need to be expended) will conclude on 12/30/2026 (unless extended by the County).
The Cultural Capital Fund will support costs for the acquisition, construction, renovation, rehabilitation, or other capital improvements of a cultural facility. Any of the following would qualify for consideration under this description:
- New construction
- Additions to an existing structure
- Renovations or repairs to an existing structure (repairs should have a life of 20 years to qualify as capital expenditures)
- Any combination of the above
- The organization must be a nonprofit entity with a determination letter from the Internal Revenue Service declaring the organization exempt from federal income tax under section 501(c)3 of the Internal Revenue Code – no fiscal agents.
- The organization must have an active State of Florida Division of Corporations Record shown on SunBiz.org with a filing date on or before October 1, 2021.
- The organization must prove ownership of the facility or provide evidence of either a) lease agreement with a state or municipal entity with guaranteed rights of renewal, or b) a commercial lease agreement with at least 10 years remaining. (A renewal option contained in the current lease will be considered, provided such renewal does not require landlord approval.)
- Capital Fund applicants must either own or lease the facility in Palm Beach County and must own their facility to apply for any exterior rehabilitation projects. Documentation of ownership may be required.
- The organization must demonstrate the capacity to manage financing for the project through completion, as the funding is awarded on a reimbursement basis.
- The organization must commit to submitting a final report detailing expenditures made utilizing the funds awarded through the Palm Beach County Cultural Capital Fund and other information within three months of the completion of the project.
- The organization must comply with all applicable federal, state, and local laws and ordinances, including those that prohibit. discrimination based on race, color, national origin, gender or gender expression, sexual orientation, age, or disability.
- The project must be able to demonstrate that it will benefit tourism in Palm Beach County.
Applications open on the grants portal on Friday, April 21. The application process involves two steps: the first is the submission of a Letter of Intent (LOI) due on May 19, 2023. Finalists selected from the LOI pool will be invited to the second step: the submission of a full proposal through the online grant portal. The final application packet will be due on September 1, 2023.
Following the grant awards, organizations will be required to submit a final report detailing the use of the funds as well as anticipated audiences reached, and other pertinent information. The final report on the use of these funds shall be submitted to the Cultural Council within three months of the completion of the project. More information on the final report process will be detailed in the award letter.