Saturday, June 16, 2012

Corcoran Will Not Deaccession Art to Plug Its Budget Hole

At least two important budget questions were answered: The museum is not, has not, and will not consider deaccessioning works to plug its budget hole, Roth assured. And the $20.5 million made from the sale of the lease with Carr Properties for the parking lot$4 million of which it has already received, with another $10.5 million coming within the next two years—went toward immediate cash flow.

Via Washington City Paper.