Percentage financing

The public art collection of the people of Helsinki is also accrued by the so-called percentage financing principle. What this means is that in accordance with the decision of the City Board, approximately one per cent of the construction budget of the city’s major public building projects is allocated to art acquisitions. Works of art financed this way can be found in city areas currently under construction, hospitals and day care centres, among other places.

The percentage financing principle is primarily used to commission new works of art designed for a specific location. The acquisitions are carried out in cooperation with the building designer, property developer, orderer and the artist, with HAM lending its expertise to the projects and coordinating cooperation between the different parties.

The percentage financing principle has been used in Helsinki since 1991.

Percentage financing works of art are usually acquired to be placed in indoor or outdoor locations of the premises being built, but the practice is also occasionally observed in park and street construction projects. Renovation projects are another opportunity to apply the percentage financing principle.

The percentage financing principle has been used in Helsinki since 1991. The City Board renewed its decision regarding the application of the principle in 2011. At the same time, the Board defined the practices and procedures to be followed in the application of the principle.

All works of art acquired by this principle in Helsinki are added to HAM’s collection. The responsibility of maintenance and servicing of the works of art in public buildings remains with the ordering party or the user of the building, with HAM being responsible for conservation and repairs.

More information about the percentage financing principle (in Finnish)