Local art and theater organizations are among the recipients of grants recently announced by the Rasmuson Foundation.

A press release from the foundation issued last week lists 25 projects receiving funding from the foundation, including the Triumvirate Theatre and the Kenai Art Center.

The Triumvirate is set to receive $700,000, the release says. That’s for “investment for a bridge loan and working capital to help build a new theater in Kenai.” The Triumvirate has been fundraising for the construction of a new theater since their previous location was destroyed in a 2021 fire. Work on the new facility is set to begin this year.

Triumvirate President Joe Rizzo said Thursday that the Rasmuson funding takes a form similar to two low-interest loans —the first being bridge funding that will be used to pay contractors as the work on the new theater begins this summer. Rizzo said that some of the grants they’ve received for the new building won’t be paid out until the work is done.

“Of course, we have to pay the contractor before that,” he said.

The other funds will be for contingency — if costs run over budget, they can dip into it as necessary. Rizzo said that with fluctuating costs of building materials, such a possibility isn’t unlikely.

The Kenai Art Center is set to receive $150,000, the Rasmuson release says, citing a remodel of a space used for art shows and year-round gallery sales.

The center’s board president, Marion Nelson, said Thursday that funds raised by the center are for the continued renovation of the building — following the recent reflooring of the gallery space earlier this year. She said they’ve got a few projects on their list, including renovations to the building exterior and the gallery lights.

She credited Leslie Morton with securing the funding, as the lead grant writer, but said every member of the board has been involved in pursuing the development of the center.

For more information about the Triumvirate Theatre, visit facebook.com/triumviratetheater. For more information about the Kenai Art Center, visit facebook.com/KenaiArtCenter.