Figge could receive up to $800,000 per year from Davenport through 2030

The city council is considering a financial draft agreement with the Figge that would continue paying the museum up to $800,000 annually through 2030. City council met to discuss the proposal on Tuesday. And will move to take action for or against it next month.
City Administrators say the goal is to create long-term financial stability for the Figge which city officials say is one of Davenport's center for arts and culture.
The Current agreement to fund the Figge is set to expire in 2023. And members of the city council says that's why considering a new financial agreement was a priority for them.
"This agreement takes them through 2030 and then it renews on automatic terms so we know it's something that can go into the future and provide sustainability for the Figge Museum," says Jason Wright, CFO of the city of Davenport:
The proposal includes contributing $753,000 annual from 2023 to 2025.
And then increasing the city's financial contributions to $800,000 from 2026 to 2030 to cover the projected cost of living. The city says resident taxpayers won't see an increase.
"We've worked it into our plan for it to come from hotel, motel taxes in the future," says Wright.
Davenport Alderman Ray Ambrose says he's excited about the proposal. "The Figge is an anchor and it's been an anchor for a long long time," says Alderman Ambrose. When asked what he would say to taxpayers who feel the Figge is getting more money from the city than it gives back, the alderman emphasized that the museum is a cultural gem for the area.
The city says the funds raised will not go to any museum upgrades.
"Primarily it's to fund their operations so it doesn't do any capital upgrades. the Figge will continue to need to do upgrades for that," says Wright. And he says the Figge has an aggressive goal for that in the agreement itself.
"For every two dollars that the city of Davenport gives to the Figge, they're going to raise one dollar for their own operations, in addition to that they're going to be increasing their endowments every five years by five hundred thousand dollars," adds Wright.
Davenport's Chief Financial Officers says it's the endowments that are supposed to assist with capital upgrades for the Figge.
City officials are expected to vote on the proposal next month.