In California: UC Regents Buy SF Art Institute Debt; State's $500 Million Grants Program Launches For Small Businesses, Nonprofits & Cultural Institutions

  • January 02, 2021 17:31

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Detail (top), "The Making of a Fresco Showing the Building of a City," a 1931 mural by Diego Rivera at SFAI.

The Regents of the University of California stepped up to buy San Francisco Art Institute's (SFAI) $19.7 million debt, according to Mission Local. Boston Private Bank & Trust Company moved to foreclose on the 149-year-old art institution in July. The UC Regents will now be landlord to the art institute, preventing the foreclosure and public sale of its 95-year-old-campus, for now.

Just before the holidays, the State of California allocated $500 million to distribute Small Business Covid-19 Relief Grants to small businesses, nonprofits, and cultural institutions. The group Americans for the Arts Action Fund noted to California members that the first round of funding ends January 8 with application details on the website now live. Grants will be up to $25,000 and awarded to eligible small businesses and nonprofits to help cover expenses during the pandemic. 

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