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sr-032310-8a_ ~~~ ~;,Yp, City Council Report Santa Dionica City Council Meeting: March 23, 2010 Agenda Item: ~Y To: Mayor and City Council From: Rod Gould, City Manager Subject: The Broad Foundations' Proposed Museum in Civic Center Recommended Action Staff recommends that Council approve agreements-in-principle regarding the lease of Civic Center property for The Broad Foundations' proposed art museum project and authorize the City Manager to negotiate and execute an agreement providing for the Foundations to reimburse any City expenditures in the event the Foundations choose to locate the museum outside Santa Monica. Executive Summary Pursuant to Council direction, staff has undertaken negotiations with The Broad Foundations regarding creation of an art museum, open to the public, in the Civic Center. The negotiations have resulted in proposed agreements-in-principle for consideration by the City Council. The agreements-in-principle set forth conceptual commitments of the City and the Foundations. Once approved, they would constitute part of the project description subject to CEQA review. The City's proposed commitments include making 2.5 acres available in the Civic Center for the museum; providing museum parking; expediting all permits and approvals; contributing $1 million toward the museum design; and absorbing most fees and paying for any off-site environmental mitigation. The- Foundations' commitments would include building a world-class public museum as the home of the Broad Collections and the international headquarters of The Broad Art Foundation's worldwide lending program; endowing the museum sufficiently to ensure its long-term viability; collaborating with local schools and paying certain fees. The proposed agreements-in-principle would provide the framework for eventual agreements between the City and the Foundations. Council is also being asked to authorize an agreement which provides for the Foundations to reimburse any City expenditures in the event the Foundations choose to locate the museum outside Santa Monica. 1 Background At its November 17, 2009 meeting, .the City Council directed staff to undertake negotiations with The Broad Foundations (The Broad Art Foundation and The Eli and Edythe Broad Foundation) regarding the creation of a public museum of contemporary art in the Civic Center. Establishment of a major cultural facility at this .location is a community priority that along with a revitalized Civic Auditorium will meet the goals articulated in the Civic Center Specific Plan (CCSP) and the City's long-range plan for cultural development, Creative Capital. Need and Location: The Civic Center Specific Plan (CCSP) was adopted in 1993 and amended in 2005. In addition to the existing uses, the CCSP calls for park space, an early childhood development center and an expansion of the Civic Auditorium's East Wing for cultural, educational and community-oriented activities in the Civic Auditorium District. Creative Capital, adopted in 2007, also speaks to the Civic Auditorium District as the cultural focal point of the community, and identifies the need for additional cultural facilities beyond what was envisioned in the CCSP, highlighting the. need for a major catalyst that reinforces this area as the City's cultutal hub and represents the community's commitment to the arts. The survey undertaken as of part of Creative Capital found that 73 percent of residents consider the creation of a major art museum in Santa Monica to be appealing or very appealing. The Land Use and Circulation Element (LUCE) planning process also confirmed that Santa Monica has a particularly active and engaged cultural community, one that has expressed a desire for increased cultural opportunities in Santa Monica. And a recent study of audiences at a broad cross section of cultural institutions in the Los Angeles region discovered that Santa Monica residents are avid cultural consumers, with 50% to 80% of households (by zip code) attending events at these regional cultural institutions. 2 The geographic location of a destination museum of the caliber proposed by The Broad Foundations offers tremendous potential for synergy with so many of Santa Monica's existing facilities and attractions. The proposed location is two blocks from the ocean and an array of world class hotels, across the street from the Rand Corporation and the new Village housing project, as well as two blocks from the new light rail terminus, the newly refurbished Santa Monica Place and the Santa Monica Pier. In the next several years, aworld-class park will be constructed in the Civic Center linking cultural facilities, open spaces and civic buildings by pedestrian- and bicycle-friendly pathways. Adjacent educational facilities, including Santa Monica High School and Santa Monica College's new demonstration early childhood development center, expand the potential for collaborations that would daily provide opportunities to expose active young minds and their parents to the arts. The Collection: The Eli and Edythe L. Broad Collection and The Broad Art Foundation collection (the Broad Collections) are considered to be among the world's finest collections of contemporary art. The Broad Collections include approximately 2,000 artworks by more than 200 artists, ranging from the vanguard innovators of the 1960s and 70s to artists achieving similar distinction today. Significant contemporary masterworks are regularly added to the Broad Collections through an active acquisition program. Eli and Edythe Broad have a demonstrated commitment to sharing their collections. Over the past 25 years, the Foundation made over 7100 loans to 475 museums and galleries around the world with more than 100 million annual visitors combined. Certain works from the Broad Collections are also exhibited on a rotating basis at the Broad Contemporary Art Museum at LACMA. Most of this remarkable collection is currently inaccessible to the public however, because it is exhibited at the Broad residences and at The Broad Art Foundation facility (located at 3355 Barnard Way in Santa Monica), which are not open to the public. 3 A World-Class Destination: Public interest in this incomparable collection has grown over the years, with many cities and institutions exhibiting intense interest in the unique potential that the Broad Collections represent. At the same time, the Foundations have been exploring how best to house the Collections and make them more accessible for the benefit of the public. Accordingly, they have developed a conceptual approach of building a public museum and archive in a prime location in Los Angeles County. The museum would be designed by a world-class architect and would constitute a destination in and of itself, as has proven to be the case with similar visionary works of architecture all over the world for the last two decades, from Paris (the Centre Pompidou by Richard Rogers and Renzo Piano) to Houston (the Menil Collection by Renzo Piano), Bilbao (the Guggenheim by Frank Gehry) to San Francisco (the new de Young by Herzog & de Meuron), Milwaukee (the Milwaukee Art Museum by Santiago Calatrava) to Fort Worth (the Modern Art Museum by Tadao Ando). These museums attract visitors interested in the world-class design of their facilities as well as those drawn to their exhibitions and collections. A major institution like the de Young Museum for example saw its membership base increase by 80,000 households after the opening of its new building. Although the Foundations' approach to the museum is still conceptual, they envision a public facility that would draw a broad array of visitors, from local residents to national and international cultural tourists (see Attachment 1 for annual attendance figures at regional museums). In the same manner as other museums based on a single major collection, such as the Menil Collection in Houston, the Phillips Collection in Washington, D.C., or the Norton Simon Museum in Pasadena, the Broad museum will present engaging exhibitions that draw on the holdings of its renowned Collections without the costs associated with travelling exhibitions. Currently the Broad Foundations anticipate changing the exhibition approximately three times per year. The Foundations would also work collaboratively with Santa Monica schools, Santa Monica 4 College, and local arts and community organizations to provide access to the galleries for educational purposes. In addition to establishing a public art museum, the Foundations envision creating a study center dedicated to the research and conservation of the Collections, and to provide space to house the administrative headquarters of both The Broad Art Foundation's worldwide lending program and The Eli and Edythe Broad Foundation's other philanthropic programs. The study center would provide scholars access to the extensive portions of the Collections ,not on public display at any given time. Such accessible archives of contemporary art are quite rare and given the significant holdings of the Collections, would draw important researchers and scholars from all over the world to Santa Monica. The presence of such international scholars would further enrich our cultural and educational community, offering remarkable opportunities for information exchange, including lectures and master classes. Nationally, the cultural community has come to recognize the importance of such archives and is striving to develop new ones; while locally the Getty is working to make more of its vast holdings accessible to scholars both on site and on-line. The Broad Art Foundation, of which Eli Broad is the trustee, is advised by an eminent Board of Governors that will ultimately transition into a fiduciary board. In addition to planning for long-term governance, the Foundations are currently in the process of developing a long-range operations plan that will further detail the concept and approach for the museum facility. The Foundations have agreed to submit the plan for the City's review as a term of any lease. Community Benefits: The establishment of the Broad museum would strengthen Santa Monica's reputation as a major arts center, providing new opportunities for young and old to experience world class art. It would enable the City to leverage a relatively small amount of 5 Redevelopment Agency funds already earmarked for this purpose to realize the vision articulated by the community in Creative Capital. Santa Monica has long been a destination for those interested in the arts and culture. Visitors from across the region as well as throughout the world come to our beautiful beach-front city to experience cutting edge culture, from pioneering visual artists from the region's postwar period -such as the world-renowned artists of the Light and Space movement - to the galleries exhibiting the freshest art of our day at Bergamot Station. Across the United States, cities have long recognized the important tangible and intangible benefits that accrue when the city is home to a prominent cultural institution. Numerous recent studies, completed by such wide ranging institutions as RAND, the National Governors Association, and the Los Angeles Economic Development Corporation, have articulated these benefits in different ways; however they all agree that the arts build better communities, are a key industry in Southern California, and that investing in a healthy arts ecosystem makes good business sense. In terms of the future Broad museum, both the City of Los Angeles and the City of Beverly Hills have made comparable land offers. Further, while the specifics differ in each case, major cities throughout the country have chosen to support the establishment and/or the ongoing operations of major cultural institutions, in recognition of the associated social and economic benefits. A few examples are included below. Additional information on a selection of museums is provided in Attachment 2. o The City of Los Angeles granted the Museum of Contemporary Art (MOCA) an easement to use their Grand Avenue site free of charge and helped to finance the construction of the building through the City's percent for art fees paid by developers. The City also leases the Geffen Contemporary facility to MOCA for $1 per year. o Pasadena's Norton Simon Museum is situated on City land that the City leases to the Norton Simon Foundation for $1 per year, pursuant to a 99-year lease. 6 o The County of Los Angeles provides the Los Angeles County Museum of Art with more than $23 million/year. o .The City of New York owns, constructs and/or maintains the facilities that house its major museums, including the Metropolitan Museum of Art, the Brooklyn Museum and the new building for the Queens Museum, among others. In addition, the City provides more than $121 million in direct subsidies to 33 City- owned cultural institutions (i.e. institutions in City buildings or on City land; these include the Metropolitan Museum of Art, to which the City provided $25 million in 2009). o The City of Scottsdale, Arizona is supporting the establishment of the new Scottsdale Museum of the West with the provision of the land and $7 million in construction funds. o The City of Houston provides the Museum of Fine Arts the land for its extensive sculpture garden for $1/year. o The City of San Francisco issued a bond and renovated an historic city-owned building to house the Asian Art Museum. o According to a recent study by the American Association of Museums, nearly 40% of museums in the United States are located in facilities that are totally or in part maintained by other entities. Discussion Pursuant to Council direction, City staff and The Broad Foundations' representatives have negotiated proposed agreements-in-principle for the lease of City-owned land for the planned public museum. Staff seeks Council approval of the proposed principles to provide a structure for the Foundations to seek entitlements and to create the outlines of an eventual agreement between the City/Redevelopment Agency and the Foundations. Requirements of City and Redevelopment Agency Under the proposed agreements-in-principle, the City or Redevelopment Agency would do the following, at City/Agency expense: 1. Ground-lease the 2.5-acre site to the Foundations for 99 years at $1 per year. On the site, allow the Foundations to construct a museum that must include art 7 exhibition space and art archives and, at the Foundations' option, may also include museum and Foundation support space, a museum shop, and a museum cafe. Pursuant to the Civic Center Specific Plan and Creative Capital, open space and cultural facilities would be built in this location, likely at the City's expense to construct and operate should adequate City funds be available in the future. Under the proposed principle, the City would make the space available for the Foundations' use for the proposed museum, which the Foundations would construct and operate at their own expense. The identified uses would be allowed on the site, with the exhibition space and art archives required to be built. The Foundations' headquarters would also be located in the museum. In addition to art, the Foundations' mission includes advancing entrepreneurship for the public good in education and science. A total of approximately 110,000 square feet is envisioned, with a third of the space allocated to each of the three primary uses, exhibition, archive and headquarters. If the subject property were commercially zoned and valued at $400 per square foot, the worth of the City's land contribution would be estimated at over $43 million. Under similar assumptions, commercially zoned land would command an estimated annual rent of $3 million per year. However, because the General Plan, Civic Center Specific Plan, and Zoning Ordinance allow only open space and cultural uses on the site, its value ih the open market is negligible. In fact, by paying to build and operate a museum on the site, it is arguable that the Foundations are effectively reducing the City's future capital and operating costs for the site. In addition, because the land will not be used for aprofit-making enterprise, the City's lease of the property for $1 per year is similar to other leases of City property for non-profit uses including two museums, two early childhood development centers, a senior center, and a homeless service center. 2. Clear and ready the site for construction, including, without limitation, removing existing asphalt and other improvements, complete necessary grading and running utilities to the site. Prior to the commencement of construction by the Foundations, the City would prepare the site for construction. The Public Works Department estimates a City expenditure of approximately $750,000. It is anticipated that the City would otherwise make the investment for the development of parks and cultural facilities on the site. 8 3. Provide parking as follows: A. Make the Civic Center Parking Structure, or any new parking resources developed within the Civic Auditorium District of the Civic Center Specific Plan, available for public patron parking at the same rates that are charged to other members of the public. Public parking for the museum would be provided in the Civic Center Parking Structure. If the City develops underground parking as envisioned in the Civic Center Specific Plan, such parking would also serve public visitors to the museum. It is anticipated that public parking would otherwise be required to serve the park and cultural uses on the site. 8. Provide the Foundations with up to 1,000 free parking validations annually, to be used at the Foundations' discretion for events that support the museum's mission to make its art available for the benefit of the public. Validations may not be used for private events unrelated to the museum's mission. A limited supply of parking validations would be offered to support special events that expand the museum's reach within the community. At the current parking rate of $8 per entry, the annual value of the validations is $8,000. C. Make the Civic Center Parking Structure available for Foundations employee parking, at the same monthly rates that are charged to other employers and employees. Designate 25 spaces for weekday, daytime use by the Foundation. The Foundation would be able to purchase monthly parking passes in the Civic Center Parking Structure, with a limited number of designated, daytime spaces. The arrangement is similar to the City's agreements with the Santa Monica Courthouse. 4. Provide the Foundations with expedited and priority processing for all entitlements, permits, and approvals to implement the museum. One of the Foundations' top priorities is to complete the museum on an expedited timeframe. Under the proposed principle, the processing of permits and entitlements would be expedited in a manner similar to the 9 City's success with expediting permits and entitlements for the development of the Annenberg Community Beach House. A. Designate staff to process entitlements, plan check, permitting, and inspection to expedite the permitting of the museum. As has been done for the RDA-funded priority projects, designated staff would take responsibility for expediting project development. B. Expedite the CEQA review process including utilization of a contract EIR firm to prepare the EIR. The City would rely on a firm that is familiar with the City and CEQA to expedite the environmental review. C. Make every effort to expedite the entitlement and permit process. Through the use of designated and experienced staff and consultants, staff will expedite the entitlement and permit process. D. Implement any required off-site environmental mitigations, as part of the City's broader responsibility for implementation of the Civic Center Specific Plan (CCSP) and any off-site mitigation measures required by the CEQA review of the museum or any entitlement approvals for the museum. Under the proposed principle, the City would take responsibility for any off-site environmental mitigation. It is likely that the City would otherwise take such- responsibility as part of the CCSP implementation. The Civic Center Specific Plan, which was certified in June 2005, identifies one off-site mitigation measure specifically tied to the development of the Civic Auditorium Special District. The measure, which involves the implementation of an additional left-turn phase at the Ocean Avenue/Pico Boulevard intersection, is estimated to cost no more than $50,000. Additional mitigations may be required once the CCSP is modified to include the museum. E. Facilitate early design review by the Architecture Review Board and Planning Commission so that the Development Agreement provides final approval of key building elements (for example, building massing, elevations, colors and materials.) Subsequent design review would be limited to those design items not approved as part of the Development Agreement (for example, open space design and landscaping.) 10 As was done with the RAND Development Agreement, the proposed principle would provide the Fbundations with a high level of design certainty once the Development Agreement is approved. To ensure that the Planning Commission's and Architectural Review Board's expertise is reflected in the Council's approval of the museum design, the Planning Commission and Architectural Review Board would be engaged in reviewing the project early in the design process. 5. Make cone-time contribution of $7 million toward the design of the museum. The Foundations requested an annual contribution of one-third of the expected $12 million operating budget (approximately $4 million) to support the operations of the museum in Santa Monica. The Foundations initially requested such assistance by demonstrating that it is in keeping with the financial support that many cities and counties across the country, including the City and County of Los Angeles, provide to their cultural institutions. However, staff has recommended, and the Foundations have agreed to accept, aone-time, $1 million contribution toward the museum's design. 6. Make good faith efforts to pursue federal and state stimulus funds to assist with museum construction costs. The City will continue such efforts. 7. Maintain adjacent landscaped and plaza areas outside the perimeter of the museum building consistent with the highest standards applied to other public open spaces in Santa Monica. It is expected that the City would maintain these areas as part of any development of the Civic Center area. 8. Provide security for the exterior of the museum building and the park consistent with the highest standards applied to other public open spaces in Santa Monica. It is expected that the City would continue to monitor these areas according to the highest service levels and standards for other City parks. Interior museum security will be the responsibility of the Foundations. 9. Pursue construction of the Civic Auditorium Park. and the plaza area between the museum .building and the Civic Auditorium; collaborate in good faith with the Foundations on the designs for the park and plaza. The City will retain discretion 11 regarding the final design of the park and the timing of construction; provided, however, that the City will in good faith take into consideration the reasonable concerns of the Foundations. The proposed "good neighbor" principle is intended to ensure that the park and museum design are coherent and complementary. 10. Ensure that the Foundations will not be charged, or will be reimbursed by the City, for all City processing and permitting fees (such as plan check, inspection and other similar fees) and City development impact fees (including sewer, parks and recreation, and other similar development fees and charges); provided, however, the Foundations will pay the School District Developer Fee and Child Care Linkage Fee. Furthermore, the City will not be obligated to pay on-going taxes, if any, that the Foundations maybe required to pay in connection with operation of the museum. The direct and indirect cost to the City to absorb all permit and development fees is estimated at approximately $900,000. 11. Facilitate the museum's daily operations (e.g. with respect to such operational needs as pick-up and delivery of large-scale artwork by trucking companies.) Any operational requirements in the Development Agreement will need to reflect the unique nature of the museum's operations. Requirements of the Broad Foundations: Under the proposed principles-of-agreement, the Broad Foundations would do the following, at the Foundations' expense: 1. Construct a museum on the site to serve as the home and showcase of The Broad Collections and the headquarters of The Broad Art Foundation's worldwide lending program. Foundation representatives estimate an expenditure of between $50 million and $70 million for design and construction of the museum. 2. Engage aworld-class architect to design the museum. As it is important that the museum becomes a signature building within Santa Monica and the Civic Center, the Foundation will engage an architect of major international stature to design the museum. 12 3. Establish ah independent endowment of $200 million to fund the museum's operations, maintenance and art acquisitions. The final agreements will contain provisions to ensure that the endowment is in place and dedicated exclusively to the museum's operations, maintenance and acquisitions so as to ensure that aworld- class art collection will remain on display and accessible to the public for the life of the museum. A fundamental consideration is that the museum endowment is of sufficient size to ensure its continued operation in a first-class manner. The Foundations have committed to an endowment of $200 million based on review of similar museums around the country. Less than 10% of the museums in the country have endowments over $80 million. For reference, staff researched comparable museum endowments, operating revenues, and costs and the resulting information is incorporated in Attachment 2. The Broad museum is expected to operate with an annual budget of $12 million, which represents 6% of the envisioned endowment. Historically, the Broad Foundations' assets have had higher annual returns. Returns on the endowment would be supplemented by income from paid admissions and memberships. The Foundations' staff and Board of Governors are currently preparing a detailed plan for the operations and maintenance of the museum to ensure its long-term viability. The Foundations will share relevant portions of their completed analysis with the City before final agreements are approved. 4. Construct no less than 30,000 square feet of art exhibition space that is open to the public during regular and reasonable hours consistent with the hours that comparable public museums are typically open. The museum's fundamental public amenity will be its art exhibition space. The proposed principle is intended to ensure that an ample amount of exhibition space is included within the museum to maximize public access to rotating exhibits of the work in the Collections. 5. Construct and operate an art archive that will be accessible to art professionals. The archive will serve as the home of the Broad Collections, though pieces of the Broad Collections will continue to be displayed in the Broad residences and loaned to other institutions as part of The Broad Art Foundation's worldwide lending program. The Collections include approximately 2,000 artworks by more than 200 artists. A significant element of the museum will be an archive that makes 13 the full breadth and richness of the Broad Collections available for viewing and study by art professionals. 6. For as long as the Foundations occupy the building, make good faith efforts to collaborate with Santa Monica's schools and Santa Monica College through means such as hosting school group visits to the exhibition space and providing access to the Broad Collections for workshops, lectures and seminars for students, educators and arts professionals. As the museum provides outstanding educational opportunities, the Foundations would commit to collaboration with and access for the schools and college. 7. Pay the School District's Development Fee and the Child Care Linkage Fee. The Foundations would pay the one-time School District Development Fee and the one-time Child Care Linkage Fee. 8. Reimburse the City's and Agency's actual out-of-pocket expenses incurred after March 23, 2010 as a result of performing the tasks enumerated in Section 1, above, should the Foundations construct the museum outside of Santa Monica due to reasons outside the control of the City, its employees or Council members. One of staff's concerns is that the Foundations and City could proceed through the entitlement process, at considerable City expense, and then the Foundations could choose to locate the museum in another city that is courting them. In order to provide the City with a level of protection, the Foundations would be responsible for reimbursing any City/Agency for out-of-pocket expenses and the City and Foundations would execute such agreement immediately. While the reimbursement agreement provides the City with protection for its out-of- pocket expenses, the City also faces the risk that the subject property could be tied up in pursuit of a failed museum project. In such event, the City could lose valuable time in making progress on the planning and design of other cultural and community uses on the site. To help minimize such risks, staff recommends that The Broad Foundations be given no more than six months to initiate development of the proposed museum in Santa Monica. Initiation of development would be signaled by public announcements, execution of the recommended reimbursement agreement, finalization of a project description for CEQA purposes, and initiation of design dialogue with City staff in anticipation of review by the City Council and related boards and commissions. 14 Eventual Agreements As legal documents are drafted and negotiated to reflect the agreements-in-principle, the agreements will need to address issues such as remedies in the event of default and performance milestones to ensure continued progress on development of the museum. Alternatives Council could modify the agreements-in-principle, with the understanding that additional negotiation with and consideration by the Foundations may be required. Council could also direct staff to terminate negotiations. Next Steps If the City Council approves the agreements-in-principle, City staff and Foundations representatives will initiate the. entitlement process, environmental review, and negotiation of appropriate agreements. During the period of environmental review and negotiation of the Development Agreement, the City Council, as well as the Planning Commission and Architectural Review Board, would participate in conceptual review of the proposed museum design. Financial Impacts & Budget Actions In addition to the opportunity cost of leasing the land for $1 per year, the upfront direct and indirect costs of the proposed agreements-in-principle are estimated. at approximately $2.7 million, including $1 million for design assistance, $750,000 for site preparation, $900,000 for permitting and fees, and $50,000 for off-site environmental mitigation. On May 12, 2009, Council allocated $21 million of long-term redevelopment funding capacity toward the development of the Civic Auditorium District not including funds allocated toward the Early Childhood Development Center and the renovation of the Civic Auditorium itself. With $2.7 million allocated for the City/Agency contribution 15 toward museum development, the Public Works Departments estimates that the remaining $18,3 million will be sufficient to complete the Civic Auditorium Park. On- going costs for parking validations are estimated at $8,000 per year. On-going landscape maintenance costs will be identified once the Civic Auditorium Park has been designed. Revenue forecasts from museum parking will be developed once more detailed museum operating plans have been developed. Prepared by: Andy Agle, Director, Housing and Economic Development Jessica Cusick, Cultural Affairs Manager Approved: Forwarded to Council: ~~ d ~, --~ Rod Gould Rod Gould City Manager City Manager Attachments: 1. Annual Attendance Figures at Regional Museums 2. Information Regarding Other Museums 16 ANNUAL VISITORS TO SOUTHLAND MUSEUMS Autry Museum of the American West 2009 146,000 California African American Museum 2009 72,000 Getty Museums (both locations) 2009 1,560,904 Hammer Museum 2009 150,000 Kidspace Children's Museum 2008 225,104 Los Angeles County Museum of Art (LACMA) 2008 Nearly 1,000,000 Long Beach Museum of Art 2009 110,000 Museum of Contemporary Art (MOCA) 2008 213,000 Museum of Latin American Art 2009 66,289 Santa Monica Museum of Art 2009 39,000 ATTACHMENT 1 U.S. MUSEUM FINANCIAL INFORMATION Comparable museums, due to size, proximity, and/or single collection focus: Institution Location Endowment Revenue Expenses Exhibition Notes (FY endin 09) (07 Form 990) (07 Form 990) S ace Hammer Museum Los Angeles, No endowment $12M $12M 16,000 sq ft • Managed by UCLA CA (see note) e Land & building privately owned by Occider • Some construction & operations funds receiv MOCA Los Angeles, Approx. $20 M $17M $25M 28,500 sq ft • Land owned by City CA (see notes) (in two • Building built by private developers as part o locations) California Plaza (see note) • 55,000 sq ft space in Little Tokyo rents from • Endowment peaked at $38M in 2000 but fell Norton Simon Pasadena, CA $20M $9M $6M 51,000 sq ft • Land owned by City, building owned by mus Museum . $1/yr lease Asian Art Museum San Francisco, $20M (plus $17.6M $23.3M 29,000 sq $ • Collection acquired by City from a major col CA $80M to pay off build a museum a bond) • Land and building owned by the City • Building renovation paid for by bond • $0 rent paid by museum Menil Collection Houston, TX $185M $25 M $18 M 26,400 sq ft • Museum owns land, buildings and most of su Guggenheim New York, NY $113M $79 M $65 M 50,000 sq ft • Land and building owned by museum Museum in NY • Foundation offices in museum, with branches location museums around the world • Foundation and museum are identified as sin; • City and state contributed to 2005 renovation buildin in NYC Phillips Collection Washington, $34M $16M $13M 20,000 sq ft • Land and building owned by museum DC Note: according to the American Association of Museums report of 2009, among art museums in the U.S., • 87% have endowments - • Less than ten percent have endowments over $80 million (as of the start of the 08/09 FY) • Endowments offset 9% or more of total expenses in the top ten percent Museum Comparison - 16Mari 0 - p.l Additional museums (alphabetical, by institution): Institution City/State Endowment Revenue Expenses Year & Exhibition Space Notes (as of FY Source of 08/09) Revenue Data Children's Museum Denver, CO $1M (see $3.6M $3.SM 08/09 9,012 sq ft • Museum leases building of Denver note) annum report • Funded privately • Endowment restricted to serve Ti Denver Denver, CO $400,000 $3.4M $3.2M 08 15,000 sq ft • Museum owns land and building Contemporary Art 99o Form • Funded privately Museum Fort Worth Modern Fort Worth, $25M $8M $9M 07 53,000 sq ft • Land and building leased from pr Art Museum TX 990 Form • No funds received from City Frick Collection New York, $150M $26M $23M 07 32,000 sq ft • Museum owns land and building Ny 99o Form • Funded rivately LACMA Los Angeles, $128 M $82 M 07 500,000+ sq ft of • County owns facility, land and bt CA 99o Form total exhibition • County provides $23 M in operat and admin space • Operated by nonprofit ("Museum in 7 buildings • New BCAM wing has 60,000 sq Milwaukee Art Milwaukee, $24M $12M $12M 10 10,000 sq ft • County-owned facility Museum WI phone call • $0 rent paid by museum Nasher Sculpture Dallas, TX Approx. $100 $7M $7M 07 55,000 sq ft • Museum owns land and building Center M 99o Form building & • Funded privately Dallas 1.4 acre sculpture garden. Ogden Museum of New Orleans, $1M (see $1.7M $2M 07 67,000 sq ft • State facility, land and buildings Southern Art LA note) 99o corm • Museum receives some state supl • Endowment is new -distribution Pasadena Museum of Pasadena, CA No $1M $.8M 07 30,000 sq ft • Museum owns land and building California Art endowment 99o Form • Funded privately Philadelphia Museum Philadelphia, $268M $29M $23M 07 190,000 sq ft • City-owned land and building of Art PA 99o Form . $0 rent to museum Pulitzer Foundation St. Louis, MO $SOM $11M $3M 07 27,000 sq ft • Museum owns land and building for the Arts 990 Form • Funded privately Museum Comparison- 16Mar10-p.2 Additional museums (continued): Institution City/State Endowment Revenue Expenses Year & Exhibition Space Notes (as of FY Source of 08/09) Revenue Data Scottsdale Museum Scottsdale, $SM (see $3.9M $3.9M 10 45,000 sq ft • Museum opens in 2012 of the American West AZ note) Pnone oan . City owns land • Museum has long term lease for financed construction and comm maintain San Francisco San $80 $43 07 70,000 sq ft • Museum owns land and building Museum of Modern Francisco, CA 99o Form • Funded privately Art • Fisher Collection will be exhibite funded by donor Taubman Museum Roanoke, VA $3M $4M $4M 10 20,000 sq ft • .Opened Nov. 08 of Art Pno~e oau • City donated the land (no lease of • Museum owns building • Launching 10-year endowment c. Walker Art Center Minneapolis, $144M $32M $26M 07 40,000 sq ft • Museum owns land and building MN 99o Form • Funded rivately Warhol Museum Pittsburgh, $8M $3M $3M 10 32,000 sq ft • Museum owns land and building PA PnOneoaO • Funded privately Museum Comparison - 16Mar10 - p.3