That's a lot of money! After losing their space at the (theoretically to be built someday) World Trade Center site, this news appears today in Crain's New York:

In a boost to arts downtown, the Lower Manhattan Development Corp. said it plans to give the Drawing Center up to $10 million for a new home and will begin considering grants of another $35 million.

...

Separately, the LMDC said it will start accepting applications from cultural institutions and individuals for $35 million in arts grants. The announcement comes nearly five months after the city and state earmarked $45 million for cultural purposes out of the $800 million of federal money dedicated to Lower Manhattan development.