Stimulus (Economic)

#masthead-section-label, #masthead-bar-one { display: none }The Coronavirus OutbreakliveLatest UpdatesMaps and CasesThe Stimulus DealThe Latest Vaccine InformationF.A.Q.AdvertisementContinue reading the main storySupported byContinue reading the main storyStimulus Offers $15 Billion in Relief for Struggling Arts VenuesThe coronavirus relief package that Congressional leaders agreed to this week includes grant money that many small proprietors described as a last hope for survival.An empty United Palace Theater in New York. $15 billion of a $900 billion coronavirus relief package is designed to help the culture sector survive after a nearly yearlong revenue drought.Credit…George Etheredge for The New York TimesBen Sisario and Dec. 21, 2020, 4:24 p.m. ETFor the music venue owners, theater producers and cultural institutions that have suffered through the pandemic with no business, the coronavirus relief package that congressional leaders agreed to this week offers the prospect of aid at last: it includes $15 billion to help them weather a crisis that has closed theaters and silenced halls.The money, part of a $900 billion coronavirus relief package, is designed to help the culture sector — from dive-bar rock clubs to Broadway theaters and museums — survive. Many small proprietors described it as their last hope for being able to remain in business after a nearly yearlong revenue drought.“This is what our industry needs to make it through,” said Dayna Frank, the owner of First Avenue, a storied music club in Minneapolis. She is also the board president of the National Independent Venue Association, which was formed in April and has lobbied Congress aggressively for relief for its more than 3,000 members.As the news of the deal began to trickle out on Sunday night, a collective sigh of relief ricocheted through group text messages and social media posts. “Last night was the first time I have smiled in probably nine months,” Ms. Frank said.Dayna Frank, the owner of First Avenue in Minneapolis, said, “This is what our industry needs to make it through.”Credit…Jenn Ackerman for The New York TimesBroadway theaters, which have been closed since March, applauded the relief package.“We are grateful for this bipartisan agreement which will provide immediate relief across our industry and a lifeline to the future,” Charlotte St. Martin, the president of the Broadway League, the trade organization for producers and theater owners, said in a statement.Nataki Garrett, the artistic director for Oregon Shakespeare Festival, said that the aid would be crucial for nonprofit theaters. “Our situation was critical and dire,” she said.But the leaders of some large nonprofit cultural organizations worried that the way the bill is structured — giving priority to organizations that lost very high percentages of their revenue before considering the rest — could put them at the back of the line for grants, since they typically get a significant portion of revenues through donations.With the bill set to be approved in both chambers of Congress as early as Monday evening, arts groups around the nation were cautiously celebrating while studying the fine print to see what kind of aid they might qualify for. Most doubt the entertainment industry can fully swing back into action until well into next year, at the earliest.The bill allows independent entertainment businesses, like music venues and movie theaters, along with other cultural entities, to apply for grants from the Small Business Administration to support six months of payments to employees and for costs including rent, utilities and maintenance. Applicants must have lost at least 25 percent of their revenue to qualify, and those have lost more than 90 percent will be able to apply first, within the first two weeks after the bill becomes law.The Coronavirus Outbreak More