If all goes as planned, a decision made Monday morning by the Bridgeport Development Authority could pave the way for a cultural and arts trust to begin in the city. During the morning meeting, the BDA approved an economic development grant request by the Greater Bridgeport Convention and Visitors Bureau.

 

The application was made by GBCVB Director Michelle Duez in relation to the new building that will house that organization’s offices and up to three other new businesses at a planned facility at Charles Pointe. The grant involves a rebate – or a return – of business and occupation taxes for potentially of up to $50,000.

 

The approval doesn’t mean that there will be money sent back to the CVB. It also doesn’t mean that $50,000 will go to the CVB. Several things have to happen at this point.

 

First, the matter has to be approved by Bridgeport City Council. Council has the discretion to approve up to $50,000, which means the number could be significantly less or that the money won’t be approved at all. Also, the money – if approved – only becomes available if several caveats are met.

 

Key among the requirements is job creation. The money also doesn’t become available until after the building is completed if all the other requirements, such a creating jobs, are met. CVB President Drew Pomeroy said he’s confident that will happen.

 

“We, at no point if awarded this money, want it to go into the operations of the CVB or to pay down the debt of the building,” said Pomeroy. “We have this money earmarked as seed money of a cultural and arts trust to begin here in Bridgeport.”

 

Pomeroy said the idea of the trust is to create a central point where all the groups involved with arts, with fairs and festival and other entities of that nature, can be involved. And groups can go to that area to acquire sponsorship money for events and that the trust itself can do fundraising to help support cultural and arts-related events.

 

“One thing we want to be clear about is that we’re not going to try to tell any fair or festival what to do, but we hope that by having one point in the city to centralize things will prove beneficial,” said Pomeroy. “We certainly don’t need to tell any of these groups what to do as they already do a great job.”

 

The arrival of the money, again dependent on approval by Council, won’t likely be until 2017. The new CVB building, which currently is having plans drawn up for it by the Thrasher Group, is targeted for a completion of January 2017.

 

Monday's step taken by the CVB in front of the Development Authority was required. In order to be eligible for the grant, you have to make an application before acquiring a building permit.

 

Editor's Note: Top photo shows Drew Pomeroy of the CVB and the bottom is a rendering of the new building.