Gay museum forms Maryland ‘B Corp’ to find site

 

 

Washington Business Journal by Ben Fischer, Staff Reporter

Date: Friday, December 7, 2012, 6:00am EST

Staff Reporter- Washington Business Journal
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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.

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