The Guild now in the hands of the organization that's managed it for years

The Guildin Charlottetown is now officially in the hands of Ars Longa the not-for-profit arts and cultural organization that's been managing the building for the last 14 years.

The executive director of The GuildAlannaJankovsays she filed the deed on Thursday.

This comes more than a year after the building's previous owner, the P.E.I. Council of the Arts, dissolveddue to lack of funds.

• P.E.I. Council of the Arts dissolving due to lack of funds

Since then,Jankovhasbeen working with the province and the City of Charlottetown to transfer the building to Ars Longa's name.

"Our organization has already managed all aspects of the building for the past 14 years, so it did seem like a logical solution to ensure that the arts and cultural community of Prince Edward Island continue to have their cultural hub here in the heart of downtown Charlottetown," Jankov said.

Province covered $36,000 incosts

The province covered about $36,000 in wind down costs for the Council of the Arts which includeddebt and legal fees.

That was necessary before the ownership transfer could happen.

Thetransfer means that the building will now be safeguarded for artists for years to come, Jankov explained.

We're excited to continue doing good things for the cultural community- Alanna Jankov

"This building is a building for the artists of Prince Edward Island, for them to have a place to thrive and for us to offer them mentorship and training ... We have a first class performance space, we have versatile rehearsal space, we have a vibrant gallery, we offer networking and promotional opportunities for all the Island artists," she said.

"So if this building wasn't here and we weren't here doing the things that we've done successfully for the past 14 years, I guess it's pretty obvious that it would be a big void for the arts and cultural community of P.E.I."

'We're excited'

This ownership transfer will give the Guild more freedom to leverage funding partners, because they now own the building they operate in, she said.

"We look at this opportunity as not only a good news story and a great day for arts and culture, but it's also for us to continue doing the things we have been doing."

She added that Ars Longa is very much on solid financial ground.

"We are open and fully ready for business and continuing to do the things that we do well, which is supporting Island artists.... We're excited to continue doing good things for the cultural community."

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