HomeMy WebLinkAboutAgenda - 03-16-2021; 12-2 - Information Item - Memorandum - Eno Mill Arts Space Update � l
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ORANGE COUNTY
ARTS COMMISSION
MEMORANDUM
To: Board of County Commissioners
From: Katie Murray, Director
Date: March 1, 2021
RE: Eno Mill Arts Space Update
February marked one year since the opening of the Eno Mill Artist Studios.The pandemic provided an uncertain start;
after a preliminary full house going into March 2020, about half of the confirmed tenants decided against joining the
space due to concerns involving COVID-19. With the partnership of the mill owners, updates and improvements were
made to the space including a new air filtration system and the creation of two additional studios in what was supposed
to be open teaching space.
Throughout 2020,the OCAC slowly filled the studios, which are now on a waiting list. We committed at least two of the
eleven studios specifically for artists of color. Our current tenants represent a mixture of mediums, and reflect diversity
of age, race, gender, and career level.
In summer 2020,the mill owners presented an opportunity to generate additional, risk-free, revenue. In August,the
OCAC began renting "Suite 29," Phase 2 in the original Eno Mill plan presented in October, 2019.The original purpose
for this space was events, classes, and exhibits. Until these programs are possible,the OCAC is able to rent Suite 29 to
several large-scale artists.
Even in the face of the pandemic,the Eno Mill project is projected to generate a net profit of$6,250 in FY21, out-
performing projections.The conservative estimate for FY22 revenue is approximately$13K. Revenues will be reinvested
into the project, building the OCAC's capacity to offer new programs and events and continue to grow the project.
ENO MILL ARTS INCUBATOR : PC 71390 IYear 1 projection IFY21 PROD. ACTUAL JYear2 projection IFY22 PROJECTED ACTUAL
REVENUE
RENT COLLECTED
Suite 27 Artist Studios $32,400.00 $36,653.00 $33,990.00 $43,500.00
Suite 29 $11,389.70 $5,700.00
TOTAL RENT $32,400.00 $48,042.70 $33,990.00 $49,200.00
EVENTS/CLASSES
Suite 29 events $700.00 $2,000.00
Suite 29 classes $12,000.00
TOTAL EVENT RENTALS $0.00 $700.00 $0.00 $14,000.00
SALE OF GOODS
Commission from work sold $1,440.00 $0.00 $1,483.20 $1,440.00
TOTAL SALE OF GOODS 1$1,440.00 l$0.00 1$1,483.20 1$1,440.00
TOTAL REVENUE 1$33,840.00 1$48,742.70 1$35,473.20 1$64,640.00
EXPENSE
BUILDING RENT
Suite 27 $32,400.00 $32,670.00 $33,210.00 $33,486.76
Suite 29 $9,822.30 $17,730.00
TOTAL RENT $32,400.00 $42,492.30 $33,210.00 $51,216.76
UTI LITI ES/I NSU RAN CE
Utilities $1,560.00 $1,606.80
Insurance $480.00 $494.40
Other $1,800.00 $1,854.00
TOTAL UTILITIES/OTHER 1$3,840.00 l$0.00 1$3,955.20 l$0.00
TOTAL EXPENSE 1$36,240.00 1$42,492.30 $37,165.20 1$51,216.76
NET REVENUE 00 ii $6,250.40 ii
ORANGE COUNTY ARTS COMMISSION
Eno River Mill 1 437 Dimmocks Mill Road I Hillsborough,NC 27278
919.245.2335 1 www.artsorange.org I arts4orangecountync.gov