Please do not leave this page until complete. This can take a few moments.
After nearly a year of negotiations, the Danforth Art Museum and Framingham State University have agreed to a merger that will see the museum and the Jonathan Maynard building become part of the university located across Route 9.
The agreement includes an initial financial commitment of $4.5 million from the university toward the integration. The museum, which also includes an art school, has struggled financially recently due to what Danforth calls a “near crippling spike” of more than $500,000 in operating costs this year.
On Sept. 1, Danforth Art submitted to the Town of Framingham paperwork related to the Massachusetts State College Building Authority’s (MSCBA) purchase offer -- on behalf of Framingham State University -- for the Jonathan Maynard Building in the amount of $2.21 million.
Under the terms of the original mortgage when Danforth Art purchased the building from the town in 2013, the town has the right of first refusal for its sale, hence the required Oct. 17 Town Meeting approval.
After other losses and business interruptions this year, the merger will provide long term financial stability, the museum said in a press release Tuesday.
“As part of Framingham State University, the Danforth Art Center at Framingham State University has greater potential to serve its broad community as a university and public art museum and community art school,” said Debra Petke, executive director of Danforth Art Museum\School, in a press release.
If approved at Town Meeting, the MSCBA will then oversee the immediate renovation of the building for shared use, which will reopen in 2019 as the Danforth Art Museum at Framingham State University and the Danforth Art School at Framingham University as part of the school’s art department.
The museum and art school opened in the Jonathan Maynard Building in January after moving from the town-owned Danforth Building last year after the town ordered the building closed.
If approved, the town would receive $650,000 for the balance of Danforth Art’s mortgage and $350,000 to close out remaining commitments for in-kind contributions owed to the town.
FSU President Javier Cevallos said in a statement that the two sides have worked over the past year to enhance the college’s art program and to preserve a cultural institution in Framingham.
“We could not be more excited about this opportunity,” he said.
Stay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Sign upWorcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
SubscribeWorcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
See Digital EditionStay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments