Community Arts Stabilization Trust
CAST was founded on the belief that the arts drive strong, vibrant, diverse communities. CAST secures space and works with community arts organizations to help develop and strengthen their financial and organizational capacity to purchase permanent facilities and navigate complex real estate issues. By collaborating with local government agencies, businesses, civic leaders, funders and artists, CAST celebrates, promotes, and preserves artistic and cultural traditions and innovations. Through CAST, San Francisco will remain a vibrant and thriving home for arts organizations that will foster creativity, community participation, economic development and neighborhood well-being.
CAST works in partnership to:
- Stabilize rent for nonprofit arts organizations by freezing real estate prices in an escalating market.
- Increase the financial acumen of cultural organizations.
- Use New Market Tax Credits to bring new capital to arts facility projects.
- Involve multiple partners in San Francisco, including the San Francisco Mayor’s Office of Economic & Workforce Development.
- Assist arts organizations with their capitalization by helping them gain a permanent asset without risking their operations and programs.
Integrating Community-Based Arts in Neighborhood Revitalization
According to the San Francisco Center for Economic Development, the arts comprise the fourth-largest growth industry in the city. Arts and cultural organizations contribute greatly to San Francisco’s booming innovation economy. The arts help to accelerate neighborhood revitalization efforts, generating numerous social and economic benefits.
- The arts are a magnet, attracting businesses and keeping them here, creating jobs and stabilizing property values.
- The arts generate income by welcoming tourism and drawing crowds to events from within and around the community.
- The arts help us transcend racial, cultural, economic and political barriers and build connections across communities and diverse audiences.