LAC’s request through business case #P-38 requests additional investment of $345,000 to gradually expand the capacity of CAIP arts funding steams from $700,000 to $1,000,000.
Additional investment to CAIP will mean:
· Increased capacity to fund 20 new applicants and increase the amount of the overall investment to sustain the existing arts sector in all the CAIP funding steams. In 2023, CAIP arts funding streams received 162 applications with over $2 million in unprecedented requests from 22 arts organizations, 42 artist collectives, and 98 artists, and only 67 applicants (41%) received funding through CAIP. CAIP policy changes have increased the applicant operating revenue ceiling amount for organizations from 1M to 1.5M to recognize the economic changes that have occurred over 23 years.
· Expansion of diversification of CAIP allocations to equity-denied organizations and artist/creators and having the geographic reach to include artists/creators from the three surrounding First Nations.
· Additional investment to local music (2023 51% [$355,800] of CAIP was allocated to 38 music organizations, collectives, and musicians) that will incubate artistic talent to support London’s designation as a UNESCO City of Music.
· Increased leveraging by the LAC and CAIP recipients to access additional sources of funding. Since 2020, the LAC has leveraged over $300,000 in additional funds through the collaboration with the London Community Foundation to administer and allocate the COVID-19 Emergency Response Fund to local arts organizations through the CAIP process.
The arts and culture sector will be able to continue to support multiple segments of London's workforce and enable London to remain competitive with the growing investments of other municipalities. The total 2020 London Cultural GDP was $677M, included as part of the 2020 $28B Ontario Cultural GDP.