5114 Lankershim Boulevard / Lankershim Art Center / NoHo Arts Districts / Purchase and Sale Agreement

MOTION-- Since the 1990s, the Department of Cultural Affairs (DCA) has operated the Lankershim Art
Center in an historic art deco building previously owned by the Department of Water and
Power. The Center has provided a space for performing and visual arts and serves as a
cherished space for creativity in the NoHo Arts District, particularly in a time when spaces
devoted to the arts are struggling in the COVID-19 pandemic.

Recently, it has come to the attention of DCA that the owner of the vacant theater property
immediately adjacent to the Lankershim Art Center at 5114 North Lankershim Boulevard
may be interested in selling the property to the City. This is an opportunity to acquire and
preserve a vital performance space in the NoHo Arts District that otherwise likely would be
lost to development while also enabling DCA to significantly increase the programming,
activities and other services of the Lankershim Art Center.

I THEREFORE MOVE that the Department of General Services (GSD), with the assistance of
the City Attorney and Department of Cultural Affairs (DCA), BE INSTRUCTED to negotiate a
purchase and sale agreement with the owner(s) of the real property located at 5114
Lankershim Boulevard, Los Angeles, CA 91601, APN No, 2353007019, and to report to the
Council with the purchase price and other terms and conditions of this acquisition.

I FURTHER MOVE that GSD and DCA BE INSTRUCTED to conduct all required due diligence,
including but not limited to a Class "A" appraisal of this property.

I FURTHER MOVE that the City Administrative Officer BE INSTRUCTED to identify and
recommend potential sources of funds for this acquisition, in consultation with DCA.