 Russell departed in 2004; Vallejo Gantner, succeeded him in the position with the 2005-2006 season through 2017, and notably created Performance Space 122's annual winter series, the COIL Festival.In 2005, Performance Space 122 was among 406 New York City arts and social service institutions to receive part of a $20 million grant from the Carnegie Corporation, which was made possible through a donation by New York City mayor Michael Bloomberg.In 2011, Performance Space 122 embarked on an extensive $37 million renovation of its building, with major funding from the New York City Department of Cultural Affairs.