Washington Business Journal by Ben Fischer, Staff Reporter
Date: Friday, December 7, 2012, 6:00am EST
The group behind a proposed museum of gay and lesbian culture is using Maryland’s two-year-old “benefit LLC” law to jump-start its daunting development challenge.
The Velvet Foundation and its consultants recently created the Oliver-Grayson Holding Co. LLC to handle the proposed museum’s real estate search, a move museum management experts say is unprecedented.
The new company will act as a for-profit investment fund with the single purpose of finding, buying and operating an eventual permanent home for the museum somewhere in D.C. Organizers, who want to raise between $25 million and $40 million to buy a building, hope the move ...
Ben Fischer covers health care and law.