Important news about the HUGE capital campaign
Well friends, this isn’t the news we hoped to share with you. Unfortunately, HUGE’s planned purchase of 2728 Lyndale (the Art Materials building) cannot move forward. However, this is not the end of our search for a new, permanent home, and we’re in a much stronger place to secure that new home than we were three months ago.
Some background: As we announced previously, one of our anticipated lenders recently backed out of financing our project, which was a substantial setback to our plans. Miraculously, that same day, we were connected with a potential partner organization, to explore the possibility of their purchasing the space on our behalf, with a contractual agreement to sell the building to HUGE after 2-3 years. This would have given us the benefit of the new building and the extra time to complete our fundraising. After deliberation, that partner organization did not feel they could proceed at this time.
Obviously, this is a disappointment. We knew we were swinging for the fences, but that doesn’t lessen the sting. Still, while this is a step backward, it is absolutely not fatal to our long-term plans. HUGE remains committed to moving out of 3037 Lyndale and into our own permanent home as soon as we can. And we’re ahead of where we were in late May in a few very important ways. First, we now have a dedicated building fund of over $160,000 (and growing!), which will help us to act quickly when the right opportunity arises. Second, we’ve learned a great deal. Most significantly for us, though, this campaign activated world-wide love and support for HUGE, encouraging people far and wide to put their feelings about HUGE into words, perhaps for the first time ever. And that momentum will carry us to where we need to go.
We recognize that many of you donated with a specific plan and building in mind. We hope that you will nonetheless stand with us as we adjust course for this next leg of the journey. Your contributions are — if anything — even more vital than ever to the ultimate goal. We want to be crystal clear that we will retain and use all capital campaign donations for that purpose — costs and expenses related to securing and building out a permanent home for HUGE. We have no intention of moving those funds into general operations, or otherwise squandering your amazing efforts.
When we do land in our permanent home, we will honor our $1000+ donors with brick plaques on the wall, commemorating your generous gifts. In the meantime, we intend to put up a printed list of our campaign donors in our current lobby as well as a digital list on our website, so you can be recognized. To all of you giving according to your ability, whether it was $10 or $10,000, we thank you from the bottom of our hearts. You have been a source of constant inspiration throughout this summer’s campaign, and we look forward to delivering on our promise to you: a permanent home for Twin Cities improvisation and its community.
We’re going to take the weekend to recover, then on Monday morning, the process of finding a new home for HUGE will resume with gusto. As always, we’re grateful to have a community that believes that improv is important, and supports our efforts. If there are any questions or concerns we can address, please feel free to contact us at firstname.lastname@example.org, and we will respond promptly.
The Board and Leadership Staff of HUGE Improv Theater