11/22/2010 07:44 pm ET Updated May 25, 2011

LACMA Halts Construction Until More Donations Are Secured

November 20, 2010 | By Mike Boehm, Los Angeles Times

Los Angeles County Museum of Art officials halt further construction until more donations are secured
A mixed review on the institution's finances by Moody's Investors Service prompts the action. An additional $100 million is sought.
November 20, 2010|By Mike Boehm, Los Angeles Times

After nearly five years of constant construction and much more still to go, leaders of the Los Angeles County Museum of Art have resolved not to continue until they have socked away an additional $100 million in donations on top of the $320 million in cash and pledges given so far.

A mixed review of LACMA's recession-buffeted finances issued Wednesday by Moody's Investors Service lays out the reasons why the museum that opened the Broad Contemporary Art Museum and the BP Grand Entrance in 2008 and the Resnick Exhibition Pavilion in September is stopping for a refueling before pushing ahead.

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