On July 31, 2017 City Council approved a one-time allocation of $2M to Calgary Arts Development for immediate investment in the 10 Cornerstone Companies. In addition to providing $2M in funds, City Council has directed Calgary Arts Development to work with the Cornerstone Companies to develop a sustainability framework, which will be reported back to City Council through the Priorities and Finance Committee no later than Q2 2018.
This program did not use a traditional application-based grant process. Instead Calgary Arts Development worked with each Cornerstone Company to develop a case for investment that demonstrated how the company contributes to the City of Calgary’s goals of:
- Retaining jobs in the not-for-profit arts sector and on-going direct economic impact.
- Supporting Calgary’s economic development and diversification efforts.
- Revitalizing and animating the downtown core.
- Demonstrating a responsibility to improve equity, diversity and inclusion in Calgary’s arts sector.
- Committing to artistic and operational sustainability through adaptive thinking and critical self-awareness.