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Shriver Opposes Current Broad Deal  
By Jonathan Friedman
Lookout Staff

January 12, 2010 -- At least one council member is not convinced the City of Santa Monica is getting the best possible arrangement with the current proposal for a Civic Center museum featuring Edythe and Eli Broad’s world-famous contemporary art collection.

Council member Bobby Shriver told the Lookout News on Friday, “I don’t think we’re there yet.”

“The City is putting up too much for what they’re getting,” Shriver said. “But I would look forward to further hard-headed negotiations.”

Shriver declined to get into specifics on the record. He also would not say how he planned to vote when the council takes up the issue likely later this month.

The agreement was negotiated between City staff and representatives from the Broad Foundation over the past few months.

Under the arrangement, the City would grant a 99-year lease at $1 per year to the Foundation for the 2.5-acre property on Main Street between the County Courthouse and the Civic Auditorium. City officials say the property is worth $43 million.

Also, the City would put up $1 million toward the design of the museum. Additionally, Santa Monica would absorb all fees associated with permitting (City estimate of $900,000) and pay an estimated $750,000 to prepare the site for development.


An additional $50,000 of City money would go toward off-site environmental mitigation.

The Foundation has offered to pay $40 million to $60 million to design and build the museum that would house the collection featuring 2,000 pieces from more than 200 artists. It would also create a $200 million endowment “to fund the museum’s operations, maintenance and art acquisitions.”

The Foundation would select the architect, which it says would be “of major international stature.”

A feature proposed in November calling for the City to spend $6 million on the Barnard Way property containing much of the Foundation’s collection is not included in the current agreement.

Santa Monica is not the only city vying for this museum. The Foundation has also been in discussions with the City of Beverly Hills and a City that the Foundation has declined to name. Eli Broad has not said which, if any, City is the leading contender.

The agreement states the Foundation would reimburse the City for all “out-of-pocket expenses” associated with the deal if another City is selected for the museum location.

 

“The City is putting up too much for what they’re getting,”
    Bobby Shriver

 

 



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