Ending speculation, Eli Broad announced on August 23, 2010 that he will build a $100 million museum to house his contemporary art collection on Grand Avenue in downtown L.A.
The Los Angeles City Council has voted to spend $52 million in redevelopment funds on a plaza, parking structure and sidewalk improvements beside the downtown art museum planned by philanthropist Eli Broad.
The funds approved Wednesday are part of $930 million allocated this month by the city's redevelopment agency for hundreds of projects before it is possibly dissolved under an austerity budget proposed by Gov. Jerry Brown.
Council members are expected to vote on the rest of the funds next month.
At least a dozen city and county governments across the state have followed Los Angeles' lead in seeking to lock in redevelopment funding after Brown proposed diverting their budgets to other uses.
The mayors of California's largest cities were meeting with Brown Wednesday about the plan.
Copyright 2011 The Associated Press.