By Maria Saporta
The Woodruff Arts Center today sent an email to its governing board that it has received a $15 million grant from the Robert W. Woodruff Foundation to cover long deferred capital needs of the cultural institution.
The grant will be paid over the next two years.
In its letter to the center, the foundation stated: “This grant commitment is made in recognition of the substantial progress made in strengthening financial oversight and governance within the Woodruff Arts Center. Grant expenditures are to be made for capital projects and for debt repayment associated with previous capital improvement by the High Museum and the Alliance Theater, all in accordance with priorities articulated by the WAC governing board.”
The emailed announcement was made by Joe Bankoff, president and CEO of the Woodruff Arts Center. Bankoff let the board know that the actual projects, the timing and the amounts of capital debt repayment will be determined over the next few months.