So what you're saying is, such renovations obviously could only take place with government tax dollars, since as a private enterprise there's no way they could make it work? And this relatively small amount of spending in the grand scheme of the tax system helps keep the local arts flourishing?
Sounds like the tax system is working!
Edit: forgot to add, it also supports the construction workers, restoration workers, the places of business where materials were sourced, pumps money into the local economy, and preserves the buildings as cultural landmarks.