The Patterson Foundation is giving $300,000 to Sarasota Bayfront 20:20, which is embarking on a $2.5 million fundraising campaign to create a new planning organization tasked with steering the future of city-owned land.
As Sarasota Bayfront 20:20 works to create a planning organization to lead the redevelopment of 42 acres of city-owned land near the Van Wezel Performing Arts Hall, the Patterson Foundation has committed $300,000 to the cause.
The Patterson Foundation announced its three-tier contribution in a release today. In addition to an initial $100,000 donation, the foundation will give an additional $100,000 when the public has raised $1 million and $2.4 million for the bayfront planning effort.
“As citizens of this community, we realize the planning phase will be critical to the success of this multi-faceted journey, and our goal is to accelerate the solid steps that have already been taken,” Patterson Foundation President and CEO Debra Jacobs said in the release.
Sarasota Bayfront 20:20 is working to raise $2.5 million to fund a new planning group, which will be tasked with creating a master plan for the city-owned land. Although the members of the planning group are still to be determined, Bayfront 20:20 leader Michael Klauber hopes to have specifics finalized by September.
The Patterson Foundation, along with five other Sarasota community foundations, have assisted Bayfront 20:20 as the group attempts to establish the planning organization.
At a June meeting, Klauber said he hoped the planning organization could complete its master planning work within 18 months.
Join the Neighborhood! Our 100% local content helps strengthen our communities by delivering news and information that is relevant to our readers. Support independent local journalism by joining the Observer's new membership program — The Newsies — a group of like-minded community citizens, like you. Be a Newsie.