Twelve bucks.
That, along with $10.2 million in tax dollars, is the price for science in downtown Salt Lake City.
After a turbulent negotiation that nearly killed the project, the City Council is finalizing a 20-year lease deal with The Leonardo, a science, culture and education center preparing to occupy the old Main Library across from City Hall.
A public hearing will be set for May 5 to release the $10.2 million, approved by voters in 2003. Rent for the building is $12 per year.
And the cost to city residents: $5.97 on an average $250,000 home. Commercial-property owners will cough up $43.40 on an average $1 million parcel.
Under the terms, the city can use the museum for meetings or receptions for free, but is under no obligation to provide any additional financial support.
The Leonardo is responsible for all operating expenses, including utilities, maintenance and certification under Leadership in Energy and Environmental Design. It also must submit to the city annual financial reports that chronicle fundraising efforts and programming.
Last fall, The Leonardo got a lifeline from Mayor Ralph Becker, who granted the museum extra time to devise a sound business plan. Earlier this year, a consultant hired by the city declared that the venue is "poised for success at a level unimaginable 12 months ago."
For years, The Leonardo endured a series of stops and starts mostly due to fundraising setbacks. In 2007, three years after the science center hoped to open, the project was scaled down. Last summer, a management shake-up, after the museum was passed over for up to $8 million in naming rights, nearly scuttled the venture.
Becker, who hinted he might consider other uses for the three-story cube, always maintained he wanted a cultural amenity appropriate for Washington Square.
The Leonardo's 20-year lease has three possible 10-year extensions. Conditions under which the lease may be terminated are still under discussion.
In other lease news » The Redevelopment Agency has decided to terminate its lease with the Museum of Utah Art and History at 125 S. and 127 S. Main Street. Terms had included a 10-year option to purchase the buildings. But the museum, which has not occupied the space in some time, failed to meet its financial obligations, according to the RDA.
A public hearing will be scheduled May 5 at City Hall on Salt Lake City's decision to release a $10.2 million bond to The Leonardo. The money was approved by voters in 2003. If the bond is issued, renovation of the old Main Library into a science and culture center could begin this summer.
