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Glendale to ink 15-year lease with Los Angeles-based Museum of Neon Art
March 26, 2011 - 14:18 AMT 10:18 GMT
PanARMENIAN.Net -
Glendale is poised to ink a 15-year lease with the Los Angeles-based
Museum of Neon Art - a $5.2-million deal that city officials say will
reenergize the area across from the Americana at Brand.
The city-owned buildings near the corner of Brand Boulevard and
Harvard Street will serve as a new permanent home for the nonprofit
museum that offers educational classes alongside changing exhibitions
of photography and contemporary and vintage neon art.
The City Council is scheduled to vote on deal next week.
Still, Mayor Ara Najarian warned that the project could be threatened
by Gov. Jerry Brown's proposal to eliminate local redevelopment
agencies. City officials have made moves to protect redevelopment
revenue in recent weeks, but it is unclear whether they will be
successful.
`If the state takes away redevelopment funds retroactively, we are
going to face some challenges with this project,' Najarian said. `Keep
the champagne on ice.'
Under the terms of the lease, the city will renovate and merge
city-owned buildings at 212 and 216 S. Brand Blvd. to house the
museum, which will in turn pay phased-in rents ranging from $0 for the
first two years to $5,000 per month, plus a portion of annual gross
revenues, in the last five years, Glendale News-Press reported.
From: A. Papazian
March 26, 2011 - 14:18 AMT 10:18 GMT
PanARMENIAN.Net -
Glendale is poised to ink a 15-year lease with the Los Angeles-based
Museum of Neon Art - a $5.2-million deal that city officials say will
reenergize the area across from the Americana at Brand.
The city-owned buildings near the corner of Brand Boulevard and
Harvard Street will serve as a new permanent home for the nonprofit
museum that offers educational classes alongside changing exhibitions
of photography and contemporary and vintage neon art.
The City Council is scheduled to vote on deal next week.
Still, Mayor Ara Najarian warned that the project could be threatened
by Gov. Jerry Brown's proposal to eliminate local redevelopment
agencies. City officials have made moves to protect redevelopment
revenue in recent weeks, but it is unclear whether they will be
successful.
`If the state takes away redevelopment funds retroactively, we are
going to face some challenges with this project,' Najarian said. `Keep
the champagne on ice.'
Under the terms of the lease, the city will renovate and merge
city-owned buildings at 212 and 216 S. Brand Blvd. to house the
museum, which will in turn pay phased-in rents ranging from $0 for the
first two years to $5,000 per month, plus a portion of annual gross
revenues, in the last five years, Glendale News-Press reported.
From: A. Papazian