Armenian American museum ground lease agreement approved and signed

ARMENIAN AMERICAN MUSEUM GROUND LEASE AGREEMENT APPROVED AND SIGNED

The Armenian American Museum’s ground lease agreement ceremony took place at the Glendale Central Library, on Wednesday, August 15, 2018, between the Museum committee and the Glendale City Council. H.E. Moushegh Mardirossian, Prelate, as the co-chair, was present during the ceremony. Archpriest Fr. Vasken Atmajian accompanied the Prelate.

The Glendale City Council held a meeting on Tuesday, August 14, 2018, unanimously voting and adopting the agreement.

On Wednesday morning, museum and city officials held a special joint press conference to celebrate the historic decision at the Downtown Central Library, overlooking the future museum site. Executive Committee Chair Mr. Berdj Karapetian delivered the opening remarks. Thereafter, remarks were delivered by the Glendale City Mayor, Mr. Zareh Sinanyan and council members, reaffirming the importance of this project, in having a museum at the City of Glendale and making it a historic and cultural learning center for the community.

At the conclusion of the ceremony, the signing of the ground lease agreement took place, in front of the famed “Americana at Brand” shopping center. On behalf of the Western Prelacy, H.E. Moushegh Mardirossian, Prelate, also signed the agreement. The initial term of the Ground lease agreement will be 55 years with options to extend the least term for four 10-year periods totaling 95 years. The lease agreement is a symbolic $1 per year. This endeavor projects a high cost, which will be supplemented by sponsors and fundraising efforts.

 

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