Posted: Monday, July 4, 2016 – 4:08 PM
By Victoria Talbot
The Resnick Foundation is requesting they receive Sole Donor Recognition in exchange for their donation of $750,000 toward the restoration of the Cactus Garden block of the Beverly Gardens Park.
The donation plaque would be similar to the plaques seen at the Beverly Gardens Park Lily Pond.
However, the Resnick Foundation is now requesting that they amend the agreement with the execution of a side letter to their original agreement, executed in August of last year, that would ensure that theirs is the only plaque placed in the Cactus Garden for 50 years.
Restoration of that block is expected to cost $1,175,810, which exceeds the Resnick Foundation donation by $425,810. But with the matching funds, the Resnick Foundation donation would be doubled to $1,500,000, exceeding the cost by $324,190, which can be applied to other parks’ restoration.
The Resnick Foundation regularly funds the arts, and Lynda Resnick is a vigorous supporter of LACMA, where she serves as a Life Trustee. Together with her husband and business partner, the two own Pom Wonderful, Fiji Water and Teleflora florists, as well as pistachio, almond and citrus agribusinesses.
The matter will be brought to the City Council Study Session for staff direction on Tuesday.