Photo: The Bay

The Bay Achieves First 1 Million Dollar Gift of Second TPF Matching Challenge

Posted on November 02, 2021 by The Patterson Foundation
The Bay Park Conservancy (BPC) continues to pave the way toward transforming 53 acres of land on Sarasota's bayfront into a free, open, and inclusive park known as The Bay. As more people gain new opportunities to access the park's features, the community continues to show its broad support for the BPC's efforts in ways that will accelerate its evolution.

In July 2021, The Patterson Foundation announced a new funding challenge to facilitate the completion of Phase 1 — a 10-acre community park stretching from U.S. 41 to the bayfront along Boulevard of the Arts. Each time private philanthropy donates $5 million to The Bay, The Patterson Foundation will provide a $1 million match, up to a total contribution of $4 million through 2023. This challenge will result in a $24 million total investment into The Bay in TPF matching dollars and private donations.

In a matter of months, the BPC has already raised $5 million from private philanthropy, triggering The Patterson Foundation's first $1 million matching gift of the new challenge. With this latest contribution, more than $30 million has been raised from private philanthropic and community sources toward Phase 1 to date. Private donors can still achieve three more TPF matches totaling $3 million during the current matching challenge.

This matching challenge is inspired by the park's alignment with the foundation's commitment to strengthening opportunities for people of all ages and backgrounds. That support, which includes technical expertise during the master planning phase and a previous matching challenge to catalyze Phase 1 funding, now stands as a more than $6 million investment by The Patterson Foundation into The Bay.

The Patterson Foundation's support and catalytic funding have strengthened The Bay's efforts to build meaningful relationships with civic leaders, private philanthropists, and engaged citizens who understand the importance of this opportunity and the world-class community resource it will create. As evidenced by this latest funding milestone, our community is committed to bringing this shared vision of The Bay to life for the enjoyment of generations to come.

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