(A) Establishment. This policy establishes the Public Art Giveback Program for the purpose of creating a funding source for Public Art based upon contributions from certain city-supported eligible redevelopment projects.
(B) Definitions. For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning:
AFFORDABLE HOUSING. A residential rental housing project owned by a governmental entity, a non-profit entity described in § 501(c)(3) or any other entity which operates the project in compliance with the provisions of § 142(d)(1)(A) or (B) or § 42 (g) of the Internal Revenue Code of 1986, as amended, and which serves one or more of the following purposes:
(a) To benefit low-income and moderate-income persons;
(b) To prevent or eliminate slums or blight; or
(c) To respond to community development needs having a particular urgency because existing conditions pose a serious and immediate threat to the health or welfare of the community.
DEVELOPMENT AGREEMENT. An agreement between the City of Fort Wayne or its authorized agent and a Recipient stipulating the responsibilities and/or requirements that must be fulfilled in order to receive an Economic Incentive for an eligible redevelopment project.
ECONOMIC INCENTIVE. Any direct or indirect use of tax increment funds for the benefit of a Recipient, including but not limited to grants, loans, pledges, and bond sale proceeds.
ELIGIBLE REDEVELOPMENT PROJECT. Any project located within the City of Fort Wayne for which the city has provided or agreed to provide an economic incentive to a recipient, provided, however, that the term does not include the portion of a project that consists of affordable housing.
RECIPIENT. Any individual, partnership, association, organization, corporation or other entity, whether public or private, whether for profit or not for profit, which receives an economic incentive from the city for an eligible redevelopment project.
(C) Funds for works of art. This section applies only to development agreements executed on or after the effective date of this subchapter. If the city has provided or agreed to provide an economic incentive for an eligible redevelopment project, then as part of the development agreement, the recipient must agree to contribute, from non-incentive funds, an amount equal to 1% of the estimated value of the economic incentive to the Public Art Fund, up to a maximum contribution of $100,000. Terms for the payment of Giveback Program contributions shall be contained in the development agreement. To the extent the recipient agrees to spend funds on public art as part of a particular eligible redevelopment project, the recipient shall receive a dollar for dollar credit up to an amount equal to $50,000 or 0.5% of the estimated value of the economic Incentive, whichever is less. Public Art proposed at the site of an Eligible Redevelopment Project, as part of the project, shall be approved by the Public Art Commission and shall be subject to the policies and procedures set forth in the Public Art Program Guidelines. In cases where a recipient wishes to relocate an existing artwork to the project site, the value of the artwork shall be determined by an appraisal conducted by a certified art appraiser.
(D) Voluntary public art contributions. Recipients of real and/or business personal property tax abatement shall be encouraged to make a tax deductible contribution to the Public Art Program of 1% of the total estimated amount of property tax abated for the entire abatement period.
(E) Use of Public Art Giveback funds.
(1) Funds received from recipients shall be deposited into the Public Art Fund.
(2) Funds received from eligible redevelopment projects and from other sources can be combined and used at locations anywhere in the city.
(3) The Public Art Commission's guidelines shall establish protocols to ensure that the Public Art Giveback Program is geographically balanced and provides opportunities for neighborhood-driven public art projects. Public art projects may be located anywhere within the City of Fort Wayne.
(4) No more than 20% of funds collected through the Public Art Giveback Program shall be devoted to the maintenance of Public Art. Maintenance funds are not limited to projects funded through the Public Art Giveback Program.
(F) Reporting and oversight. The Public Art Commission shall provide an annual written report to the City Council on the use of funds received from the Public Art Giveback Program. This report shall be provided to the president of the council and all council members by December 31 of each year that appropriations were made to administer the program.
(Ord. R-26-18, passed 3-27-18; Am. Ord. G-2-22, passed 3-9-22)