L.A., County Officials Expect to Get Funds for Downtown Park
The $26.4 million, earmarked for a 16-acre space between City Hall and the Music Center, must be approved by the governor.
By Cara Mia DiMassa, Los Angeles Times Staff Writer
June 26, 2008
Downtown's great park took a step closer to reality today.
City and county officials announced today that they expect to receive $26.4 million in state funds for a civic park between City Hall and the Music Center that will be built as part of the $3-billion Grand Avenue project.
The 16-acre park already has more than $50 million committed, from fees paid by the project's developer, Related Cos., to the city and county, which own the land. But the extra funds will allow additional enhancements to the park's initial design, officials said. The civic park must be completed before the rest of Grand Avenue's first phase, in part because agreements with the public agencies dictate that Related will not be given certificates of occupancy for the rest of the development until the park is complete.
The state funds were authorized by the Assembly today as part of a bill allocating $150 million of Proposition 1C funds. The disbursement must be approved by the governor, who is expected to sign the bill either Friday or Monday. If approved, the money will go to the county, which will administer the park funds.