It is hard to believe but even real estate developers sometimes do good things for their communities–especially when they team up with local entrepreneurs and activists such as Kweighbaye Kotee.

Slate Property Group and Kweighbaye Kotee, an entrepreneur and the founder of Bushwick Film Festival have created a 501(c)3 non-profit organization, Slate Property Arts and Culture Endowment (SPACE), whose mission is to help preserve the cultural diversity that has fueled Brooklyn.

A total of $80,000 will be divided between projects in visual arts (film, video and photography), performance arts, and cultural events with a particular focus on individuals of color and individuals and organizations with ties to immigrant and under-represented groups. SPACE is interested in projects and events that bring all parts of the the community closer together, bridges racial, socio-economics and cultural gaps, raise awareness about critical issues and topics, and demonstrate creative ways to solve problems.

“We love Brooklyn because of the incredible cultural diversity found in each of its communities,” Martin Nussbaum, a co-founder of Slate Property Group said. David Schwartz, the other co-founder and a Brooklyn native, has seen the borough evolve with development throughout his life, noted, “While New York City’s urban revival brings many positive changes to the outer boroughs—like new jobs and businesses—we’re aware that accompanying demographic shifts also bring challenges to both new and established communities. We really want to help preserve the best parts of our communities and want all residents to experience the benefits of change.”

Now the most important part. The deadline to submit Letter of Interest to receive funding from SPACE is Sunday, January 24.

SPACE plans to award at least 10 projects, while individual grants will not exceed $10,000, and are generally between $2,500 and $5,000. Accepted grantees will receive the funds on June 1, 2016.

SPACE representatives