Art Dealers Association of America provides aid to damaged galleries / New York

November 7, 2012

The Art Dealers Association of America has assembled an aid program that will help New York City galleries that have been hardest hit by the flooding, reports the New York Times New York’s art hub was devastated by flooding, affecting dozens of galleries and thousands of artworks.

The group announced on Tuesday that it would provide grants and loans to galleries in Zone A – including those that are not members of the organization – that have been unable to conduct business since the hurricane. In order to qualify galleries must show they have suffered “catastrophic damage that prohibits gallery business, drastically impaired cash flow, and demonstrated risk of a business’s permanent closure.” An oversight committee will administer the grants and loans from an initial fund of $250,000. The first disbursements could be made as early as this week. In a statement, the association said it hopes “that this injection of resources will speed the recovery and assist the entire gallery community in restoring this vital component of cultural life in New York City.”

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