GRIFFITH PARK : 30-Year Operating Contract for Equestrian Center OKd
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After two years of agonizing negotiations, the Los Angeles City Council on Tuesday unanimously approved a 30-year contract with a private firm to run the city’s 70-acre horse-riding facility at Griffith Park.
“We’re very happy with today’s council action,” said Jana Olson, spokesman for the franchise-holder, Los Angeles Equestrian Center Inc.
LAEC won the franchise in May, 1990, and then triggered a lengthy City Hall review when it asked that its rent be sharply reduced.
Under the deal adopted Tuesday, LAEC will pay the city a flat fee of $350,000 over the first five years of its contract, then pay a percentage of its gross receipts in subsequent years. Until now, the firm has been paying a percentage of gross.
“This is a much better deal for the city,” said Councilman Joel Wachs, chairman of a committee that oversees park matters.
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