LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
NEW WINDSOR—Gov. Kathy Hochul announced significant new state funding for the campus-wide improvement project at Storm King Art Center, a 500-acre outdoor museum in New Windsor that includes a $7.5-million New York State Council of the Arts Large Capital Improvement Grants recipient.
The governor, at the groundbreaking ceremony on June 6, reported that in addition to NYSCA’s support, Empire State Development has awarded more than $3 million in funding to Storm King Art Center in the form of a $2-million capital grant and a $1.2-million Market New York grant based on the recommendation of the Mid-Hudson Regional Economic Development Council. NYSERDA has also contributed $600,000 to the project, bringing New York State’s total support for the Storm King Art Center facility to more than $11 million.
NYSCA’s Large Capital Improvement Grants for Arts and Culture support arts and cultural institutions across the state that are undertaking impactful, large-scale capital improvements. Grants range from $2 million to $10 million for projects with a total cost of $4 million or more. This funding will support investments to expand cultural programming, reach new and diverse audiences, and promote accessibility. These grants will also help advance the state’s goals around diversity, equity, and inclusion and will require all grantees to commit to social equity initiatives and access plans that serve all New Yorkers. NYSCA’s Large Capital Improvement Grants program is administered in coordination with Empire State Development, which reviews applications to evaluate the potential for projects to support local placemaking, community development, and downtown revitalization efforts.
The grant to Storm King Art Center will enhance the visitor experience through the construction of two new building elements: the Welcome Sequence and the Conservation, Fabrication, and Maintenance Building. The Welcome Sequence will help to simplify visitors’ arrival by doubling parking capacity, removing traffic, and adding new facilities to accommodate guest arrivals and group tours. The Conservation, Fabrication, and Maintenance Building will be Storm King’s first-ever purpose-built space, allowing them to work with artists on fabrication, better care for their collection by conserving important artworks onsite, and providing staff with safe, well-equipped facilities. The new facility will also prioritize sustainability with all-electric buildings and LEED Gold Certification for the Welcome Sequence, reinforcing Storm King’s long history of land preservation and environmental education, state officials noted.
President of Storm King Art Center John P. Stern said, “We are thrilled to break ground on Storm King’s first-ever capital project. We embarked on this project with a commitment to enhance and sustain the extraordinary experience of art and nature that Storm King offers its visitors, artists, and community. New York State’s support, through the NYSCA, ESD, and NYSERDA grants, is essential in reaching today’s exciting milestone. I’m grateful for their partnership, which will allow us to share Storm King’s extraordinary site and collection with future generations.”
Mid-Hudson Regional Economic Development Council Co-Chairs Dr. Marsha Gordon, President & CEO of The Business Council of Westchester and Dr. Kristine Young, president of SUNY Orange stated, “Through the Regional Council’s ‘live, work, play’ strategy, we have focused on enhancing the quality of life for our residents and strengthening the region’s identity as a premier tourist destination. This investment in the Storm King Arts Center will attract additional visitor spending and stimulate economic growth throughout the region.”
Storm King Art Center announced the expansion project back in August 2022 and stated that the $45-million project “represents a significant commitment to creatively improve and preserve the Art Center’s 500-acre site, securing its unique landscape for decades to come.” The Storm King Art Center is working with a global team of consultants, including project partners heneghan peng architects, from Dublin, New York-based WXY Architecture + urban design, and landscape architecture firms Gustafson Porter + Bowman, of London, and Reed Hilderbrand of Cambridge, MA and New Haven, CT.
“On behalf of our County Executive, Steven M Neuhaus, we are thrilled to witness the launch of a monumental project for one of Orange County’s top attractions, Storm King Art Center,” said Orange County Director of Tourism and Film Amanda Dana. “The State of New York has demonstrated its support for the arts industry and in this case, has granted over $7.5 million towards this capital expansion. The arts industry is a substantial economic driver in Orange County and we are excited to be a part of this investment for the arts and culture sector,” Dana said. “We are delighted to welcome guests from around the world to Orange County and Storm King Art Center is a tremendous driver of these visitors. Enhancing the visitor experience will only add to the affinity people share when they spend quality time in our picturesque county.”
Other notable grant awardees included the Hudson Valley Shakespeare Festival in Putnam County and the National Black Theater Workshop in New York City, which each received $10 million in state funding.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.