Recession And Cultural Institutions
What would Bridgeport look like if the Beardsley Zoo, the Bridgeport Bluefish, and Captain’s Cove Marina were to close? Bridgeport would look similar to Waterbury, a former industrial city trying to attract a young and burgeoning economy. These days Waterbury has pinned its hope on an indoor water park. The Coco Key Resort, 55,000-square-foot indoor water park, recently opened in October of 2008. Not that there’s anything wrong with water parks. But commercial attractions like Coco Key rely on the disposable income of families just as much as non-profit organizations too. And in tight economies, things happen. Witness the latest PR push by the firm that operates Waterbury’s park:
CoCo Key Water Resorts want to help families create those lasting memories while going easy on the pocket book. Guests will receive $50 off their overnight stay between December 25, 2008-January 31, 2009 when mentioning promo code “bailout”*.
“It’s our own “mini” bailout for families deserving a break with their families but needing a little financial assistance,” says Kirk.
CoCo Key Water Resorts offer day and overnight package options to fit any budget. Overnight packages typically start at around $179-$199 per night, which includes four water resort passes valid for two full days of swimming. Day passes are also available based on resort capacity. Four-pack value ticket options are now available online and provide a great value for families.
To plan a water resort getaway or for more information, guests can visit the CoCo Key website at www.CoCoKeyWaterResort.com.
Reducing rates during the key fourth quarter is a harbinger of underlying revenue uncertainty. But the news out of Bridgeport, gives pause to complex issues that arise out of municipal relationships with cultural institutions. In an October Connecticut Post article, reporter Bill Cummings identified that the Beardsley Zoo owed $100,000 in back rent, Captain’s Cove Marina owed $147,620 in back rent and the Bridgeport Bluefish owed $187,500 in back rent. All these rents are owed the City of Bridgeport which leases the public lands to the various organizations that operate there. Which raises the question of how the City of Bridgeport will be able to differentiate itself from the rest of the big cities in Connecticut. For awhile, Bridgeport was fostering a burgeoning arts community. With places like NEST, which delivered artist studio space being sold to in order to change over to condo units, the art vibe will struggle.
Norwalk is not immune to the same big city pressures. The Maritime Aquarium is in the midst of a capital plan fund raising for its master plan expansion, but also is restructuring as a result of declining revenues. The Lockwood Mathews Museum faces similar issues, a capital intensive master plan but falling revenues. The Stepping Stones Museum may be in better shape, but is also seeking to expand.
Cultural institutions are a part of what defines a city. They collectively encourage visitors and generate jobs and economic activity. The State legislature is already looking at curtailing the film tax credit that has recently brought feature film shoots to Connecticut and created post production jobs, generating over $400 million in-state production expenses, according to a Courant article.
With municipal budgets facing harsh realities of lost revenue, struggling economies and resident aversion to tax increases, the cultural organizations that rely on the mix of private donations and public funding support are increasingly vulnerable. Yet without these organizations, the quality of life in a city suffers.
