Money out must come back in.
That was Hugh Holmes Jr.’s reasoning for the rent increases to the shops and restaurants in the Island Shopping Center on Marina Drive, which he manages for the owners. Some tenants called the rent increases “huge.”
The Artists’ Guild of Anna Maria Island, in the center at 5414 Marina Drive, Holmes Beach, was hit by the increase, as Holmes attempted to recoup 2019 shortages on maintenance and insurance.
Sharon Tarras, president of AGAMI, pulled no punches in an interview March 11 with The Islander.
“We had a huge rent increase this year — $7,300 total over last year’s total of $34,291.12,” Tarras said.
“On top of that,” she said, “We also had to pay a one-time assessment of $3,200 for the underestimated 2019 expenses.”
Costs were higher than Holmes anticipated, he told The Islander in January, and based on leases with tenants, the monthly rent had to increase to recoup them.
“After a careful examination of our books, we honestly see no way to continue on with the AGAMI gallery and our programs without monetary help and changes,” Tarras said.
She also referred to the guild’s scholarship program for Manatee County students, among other efforts.
“Our members have been willing to pay more for their gallery space,” she said, and a GoFundMe page was established for the gallery with a goal of $10,000.
The fund had reached about 12% of the goal, Tarras said March 11.
Information for the account can be found at amiartistsguildgallery.com.
A March 13 open house that was to include a fundraiser for AGAMI was canceled due to concerns about the new coronavirus.
At any rate, with less than $1,000 in the coffers at the end of 2019, AGAMI says help is needed.
“We’re just not quite sure we can continue,” Tarras said.