{"id":4258,"date":"2009-07-30T12:46:37","date_gmt":"2009-07-30T18:46:37","guid":{"rendered":"http:\/\/www.conradaskland.com\/blog\/?p=4258"},"modified":"2009-07-30T12:46:37","modified_gmt":"2009-07-30T18:46:37","slug":"panel-oks-30-million-loan-for-cirque-du-soleil-hollywood","status":"publish","type":"post","link":"https:\/\/conradaskland.com\/blog\/panel-oks-30-million-loan-for-cirque-du-soleil-hollywood\/","title":{"rendered":"Panel OK&#8217;s 30 Million Loan for Cirque Du Soleil Hollywood"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-4259\" title=\"clown\" src=\"http:\/\/www.conradaskland.com\/blog\/wp-content\/uploads\/2009\/07\/clown.jpg\" alt=\"clown\" width=\"320\" height=\"218\" srcset=\"https:\/\/conradaskland.com\/blog\/wp-content\/uploads\/2009\/07\/clown.jpg 320w, https:\/\/conradaskland.com\/blog\/wp-content\/uploads\/2009\/07\/clown-300x204.jpg 300w\" sizes=\"(max-width: 320px) 100vw, 320px\" \/><\/p>\n<p>A five-member committee of the Los Angeles City Council voted this morning to move ahead with a $30- million loan that would bring a decade of Cirque du Soleil performances to the Kodak Theatre in Hollywood.<\/p>\n<p><!--more--><\/p>\n<p>The council\u2019s Housing, Community and Economic Development Committee unanimously forwarded the loan proposal to the full council for a vote, saying the deal would boost the economy by drawing tourists to the Hollywood &amp; Highland shopping mall, where the theater is located.<\/p>\n<p>Under the proposed loan agreement, TheatreDreams LA\/CHI would promise to create no fewer than 858 jobs and stage the acrobatic show 368 times per year.<\/p>\n<p>\u201cThis is really going to be, outside of the Academy Awards, the landmark show in Hollywood,\u201d said Council President Eric Garcetti, whose district includes the mall.<\/p>\n<div>\n<p>The Community Development Department, which is processing the loan, estimated the city already has invested $127 million in the Hollywood &amp; Highland complex, with a majority of that money going toward the construction of the underground parking garage and the theater.<\/p>\n<p>On Tuesday,\u00a0<a href=\"http:\/\/www.latimes.com\/news\/local\/la-me-cirque29-2009jul29,0,2033863.story\" target=\"_blank\"><span style=\"color: #007aaa;\">Councilman Dennis Zine questioned<\/span><\/a> whether so much federal loan money should be devoted to a single economic development project. But Councilman Tony Cardenas said this morning that critics were taking aim at the deal simply because the facility is \u201cso high-profile and so pretty.\u201d<\/p>\n<p>CIM Group, which owns Hollywood &amp; Highland, sought the loan. The company is also relying on the city for financial help with development projects planned in Mid-City and Reseda. CIM Group leases the Kodak Theatre from the city, and its Urban Real Estate Fund is part of TheatreDreams LA\/CHI. Under the proposal, the theater will continue to serve as the home of the annual Academy Awards ceremony.<\/p>\n<p>&#8212; David Zahniser<\/p>\n<p><em>Photo: Christian Fitzharris clowns around a crowd gathered in May in Santa Monica. Credit: Ken Hively \/ Los Angeles Times.<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A five-member committee of the Los Angeles City Council voted this morning to move ahead with a $30- million loan that would bring a decade of Cirque du Soleil performances to the Kodak Theatre in Hollywood.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[44],"tags":[3015,3024,3016,3019,4102,3014,3023,3017,3020,3018,3025,3030,3021,3033,3022,3029,3031,3028,3027,3026],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p3C0LX-16G","_links":{"self":[{"href":"https:\/\/conradaskland.com\/blog\/wp-json\/wp\/v2\/posts\/4258"}],"collection":[{"href":"https:\/\/conradaskland.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/conradaskland.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/conradaskland.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/conradaskland.com\/blog\/wp-json\/wp\/v2\/comments?post=4258"}],"version-history":[{"count":1,"href":"https:\/\/conradaskland.com\/blog\/wp-json\/wp\/v2\/posts\/4258\/revisions"}],"predecessor-version":[{"id":4260,"href":"https:\/\/conradaskland.com\/blog\/wp-json\/wp\/v2\/posts\/4258\/revisions\/4260"}],"wp:attachment":[{"href":"https:\/\/conradaskland.com\/blog\/wp-json\/wp\/v2\/media?parent=4258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/conradaskland.com\/blog\/wp-json\/wp\/v2\/categories?post=4258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/conradaskland.com\/blog\/wp-json\/wp\/v2\/tags?post=4258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}