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Committee advances Asian Art Museum transformation agreement after trustees’ indemnity explained
Summary
The committee recommended approval of a grant acceptance agreement indemnifying foundation trustees and enabling the Asian Art Museum's transformation project, which includes a 13,000-square-foot addition, a 7,500-square-foot terrace, and fundraising of roughly $68 million in cash and pledges, the museum said.
The Government Audit and Oversight Committee on Dec. 6 recommended sending a grant‑acceptance agreement for the Asian Art Museum to the full Board, after museum leaders described the transformation project, fundraising progress and the legal protections requested for foundation trustees.
What was proposed: The agreement would allow the Asian Art Commission to accept private funds raised by an affiliated foundation and would provide an indemnity to foundation trustees, officers and employees for claims related to construction and fundraising activity, similar to protections provided to commissioners. Dr. Jay Xu, the museum director and CEO, said the agreement was important to encourage foundation participation in the capital campaign and construction oversight.
Project details and fundraising: Xu described the physical scope as a modest addition (about 13,000 square feet) at the back of the museum to create a larger special‑exhibition pavilion, a roof terrace (about 7,500 square feet) for contemporary art and a set of improvements to public, educational and gallery spaces. He reported the foundation had raised "cash and pledges close to 68 millions, including the entire 38,000,000 required for the transformation project," with a total fundraising goal of $90 million.
Permitting and schedule: Staff noted architectural-review approvals are in place and the project is in permitting; negotiations with the general contractor for a guaranteed‑maximum price contract were underway. The museum said it hoped to start ground work in the first quarter of 2018 and that having the grant acceptance agreement in place would help keep the project on schedule and budget.
Committee action: With congratulations from committee members and no public opposition, the committee moved the item forward with recommendation to the full Board.
Why it matters: The agreement clarifies the city’s relationship to a major local cultural capital project and removes a legal barrier the foundation said was inhibiting fundraising and contractor commitments. The project aims to increase exhibition and education capacity for the museum’s world‑class collection and to expand school programming.
