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Closed-Session Council Item Set For June 23, 3:30 p.m.: "Negotiating Parties: City of Long Beach and Long Beach Museum of Art Foundation; Under Negotiation: Terms and Conditions of Lease"

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(June 19, 2009) -- The following item has been agendized for closed City Council discussion on Tuesday, June 23 at 3:30 p.m.:

SPECIAL MEETING
1. Opportunity for public comment.
2. Mayor and Council adjourn to closed session.
a. Pursuant to Section 54956.8 of the California Government Code regarding a conference with the City's real property negotiator:
1. Property: 2300 E. Ocean Boulevard Long Beach, CA
City's Negotiator: Patrick H. West, City Manager
Negotiating Parties: City of Long Beach and Long Beach
Museum of Art Foundation
Under Negotiation: Terms and Conditions of Lease

2300 Ocean Blvd. is the address of the LB Museum of Art.

As of 1:30 p.m. Friday, there is no companion public Council discussion agendized on this matter.

Developing.

Related LBReport.com coverage:

Editorial: Chumps

Mayor Foster Statement On Approaching $3 Million Debt/Bond Payment Re LB Museum of Art Foundation

LB Museum of Art Foundation Offers Mayor Foster Deal That Would Leave LB Taxpayers Paying $3 Million That Taxpayers Weren't Supposed To Pay, Offers Instead To (Read Letter In Full); LBReport.com Seeks Comments From Councilmembers (Who'd Have To Approve The Deal) And You (Who'd Pay It)

In Depth / With Audio / Perspective: City Mgm't Acknowledges No Plan In Place To Avoid Paying $3 Million Debt Bond That LB Museum of Art Foundation Was Supposed To Pay; Hear What City Mgm't Said & How Budget Committee Members Responded