03/28/2010 05:12 am ET Updated May 25, 2011

Downtown LA Is A Contender For Eli Broad's Art Museum

Here's the latest installment in the courtship of Eli Broad -- and the art museum he aims to plunk somewhere in the Los Angeles Basin, complete with big-name architecture, a spiffy $200 million endowment and the 2,000 works of contemporary art held by his Broad Art Foundation.

Downtown L.A. is officially making a play, courtesy of the Grand Avenue Authority, which today authorized negotiations with Broad toward a possible deal that would wrest the museum from Santa Monica and Beverly Hills, which are also in the running.

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