Tribeca fest feasts on $3 million grant

The hefty LMDC grant comes on top of the fest's founding endowment from American Express in the form of a "multiyear, multimillion-dollar" sponsorship deal. That financing is believed to total $10 million, though American Express does not reveal the terms of its sponsorships.

The rich combination of corporate and government support makes Tribeca an uncommonly well funded fest by U.S. standards, looked upon with a certain envy by more established events, especially when seen in relation to its youth.

But while the Tribeca fest has yet to prove itself as a significant acquisitions or launch platform, the fest's sui generis nature has so far made it more a civic-minded, consumer-focused event than an industry forum, placing it in a unique position to attract the kind of funding that often eludes industry-driven film meets.

In addition to the LMDC infusion, Gov. George E. Pataki awarded a $200,000 grant from Empire State Development to subsidize the Tribeca Film Institute's year-round education and networking programs.

"In two years since the Tribeca Film Festival began, the event has succeeded in attracting close to half a million people to lower Manhattan," Pataki said. "The grant from the LMDC will help support a great event that is contributing to the rebuilding process by generating buzz, attracting new visitors and bringing cultural vitality to downtown."

The Tribeca Film Festival was founded by Robert De Niro, Jane Rosenthal and Craig Hatkoff in response to the 2001 terrorist attacks that devastated the area and its commercial activities.

"It is a wonderful vote of confidence we received today," Rosenthal said. "From the start, we have been committed to making our festival accessible to everyone. Last year, the festival drew more than 350,000 people from around the world and 80% of those attendees came to the festival's events for free. This grant allows us to ensure the future of this free public programming."

In lobbying for the LMDC funding, TFF officials reportedly underlined that while lower Manhattan businesses have profited from the consumer traffic brought into the area by the event, the fest itself has been running at a deficit.

The LMDC funding will help cover publication of the Tribeca Film Festival Guide -- which this year will be broadened to highlight additional cultural and entertainment opportunities in surrounding neighborhoods -- and contribute to the costs of fest panels and workshops, the Drive-In event, the family fest and street fair, as well as the year-round diversity program Tribeca All Access, created to foster a bridge between U.S.-based minority filmmakers and the film industry.

Like the fest, LMDC was formed in the wake of the 9/11 attacks and is a joint state-city corporation committed to the revitalization and economic regrowth of lower Manhattan. In awarding the grant, the LMDC selected the festival as an enterprise that promotes the downtown area as a cultural center, with free programs that also provide an educational experience.

LMDC manages $2.8 billion in federal government grants to business and residential bodies; the org is also involved in memorial and World Trade Center site development.

The Tribeca fest's third edition runs May 1-9.