TITLE
Recommendation to authorize City Manager, or designee, to execute an agreement, and any necessary amendments, with the Long Beach Museum of Art Foundation, a California non-profit public benefit corporation, to conduct an inventory and appraisal of all City-owned art, in an amount not to exceed $200,000. (Citywide)
DISCUSSION
City Council approval is requested to enter into an agreement with the Long Beach Museum of Art Foundation (Foundation) to conduct a thorough inventory of the City’s art collection at the Long Beach Museum of Art (Museum), to ensure that all City-owned artwork is fully accounted for and properly safeguarded.
Since 1985, the Foundation has operated and maintained the Museum. In addition, pursuant to an Agreement to Manage Art Collection, the Foundation has obligations to adequately insure, store, register, document, exhibit, and conserve the City’s art collection. The Agreement also prescribes the annual amount of the financial support the City contributes to the Museum for operation and maintenance. On August 12, 2008, the City Auditor’s Office issued The Long Beach Museum of Art Inventory Audit, which, among other things, provided a comprehensive account of the City-owned artwork at the Museum. The audit involved reconciling the City-owned art collection in the City’s Fixed Asset Report. As a result, the audit report identified a number of recommendations for improvement, including a comprehensive appraisal of all City-owned artwork. The last appraisal of 46 selected pieces of artwork was conducted in 1999, and valued at $11 million.
Pursuant to the City Auditor’s recommendations, the requested agreement will entail requiring the Foundation obtain a certified appraisal of the City-owned art work, including solicitation, selection, and management of an independent and certified art appraiser in good standing with the American Society of Appraisers and current expert in the areas of the City’s collection. It is estimated that ...
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