People & Business
$5 Million in Private Contributions to The Bay Triggers Additional $1 Million Gift From The Patterson Foundation
Private
donors have invested $5 million into Phase 1 of The Bay’s master plan,
triggering the first of three potential $1 million gifts from The Patterson
Foundation. Combined with a previous $2 million gift from The Patterson
Foundation, this marks a total of $8 million raised toward the master plan for
The Bay, the community’s multi-year journey to transform 53 acres of Sarasota’s
bayfront into a public park that is free, open and welcoming to our diverse
region.
The
Patterson Foundation has committed up to $5 million to the Bay Park Conservancy
to catalyze support for the additional $15 million needed to fulfill the $20
million Phase 1 fundraising goal from private sources. The Patterson
Foundation’s investment includes an initial gift of $2 million, along with
additional contributions of $1 million each time $5 million is raised in
private support. There are two $1 million gifts from The Patterson Foundation
remaining for private donors to activate by contributing to The Bay.
“In
a matter of months, other donors have collectively contributed $5 million
toward this legacy endeavor for our community,” said Debra Jacobs, president
and CEO of The Patterson Foundation. “The Bay’s commitment to engage the
community throughout this process aligns with The Patterson Foundation’s
emphasis on addressing shared aspirations, and the foundation is proud to be a
part of the journey.”
Phase
1 will bring the first round of enhancements to the space and result in the
creation of a 10-acre community park stretching from U.S. 41 to the bayfront
along Boulevard of the Arts. The Sarasota City Commission unanimously approved
the implementation plan for Phase 1 of The Bay in September. This latest
approval followed the City Commission’s unanimous approval of a partnership
agreement with the Bay Park Conservancy in April, which outlines how both
entities will work together to create, co-fund, build and operate the park for
the community.
“From
the beginning of the bay park initiative, The Patterson Foundation has been a
critical catalyst,” said AG Lafley, founding CEO of the Bay Park
Conservancy. “From the formation of the Sarasota Bayfront Planning
Organization in fall 2016, through the master planning process and start up of
the park conservancy in 2019, The Patterson Foundation has been a valued
partner, providing counsel and access to important resources in addition to leadership
financial support. We look forward to continuing to work closely together to
create a signature community park for Sarasota.”
Enhancements
to the site during Phase 1 include open spaces for a range of activities and
events, restoration and activation of the land’s natural mangrove habitat, a
sunset boardwalk on the bay, and other public amenities. The Bay Park
Conservancy recently updated the The Bay’s site plan to reflect community input
gathered during extensive public outreach and community meetings. The design
will continue to evolve based on additional input from ongoing community
engagement.
For
more information about The Bay, visit thebaysarasota.org.
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