The Project Fibonacci Foundation has announced its MOSART Center plan was placed on indefinite hold nearly a year after announcing plans for the event center in downtown Rome.
The foundation, a 501(c)(3) charitable organization, envisioned MOSART (Multiverse of Science, Art and Technology) as a fully operational STEAM (science, technology, engineering, arts and mathematics) center. Fibonacci announced the center’s construction in February 2022 and was looking to raise $1 million for it.
The brainchild of foundation chairman Dr. Andrew Drozd, MOSART was to be part interactive museum featuring modern techno-art and traditional artworks, part local venue for special guest speaker events and community activities, and part metro-hub for local STEAM leadership education and entrepreneurship programs.
Drozd said the foundation’s board of directors decided to table the project indefinitely, pending future developments.
“Unfortunately, but for good reason, the foundation did not want to be in a position of assuming a considerable debt and take on mortgage risk due to the significant fundraising shortfall, especially with interest rates continuing to climb,” said Drozd, in a statement.
“It came down to a couple of building options and negotiations were underway; however, considerable renovations would be required to make them suitable and ready for our near-term use, which would delay our 2023-2024 programs and partner collaborations, increase financial risk, and further extend our runway for sustainability well into the future.”
Read the full story here
