SkyTag Still Has $12.5 Million Offer on the Peak.

Multimillion dollar donation to protect the beautiful backdrop of the Hollywood Sign.

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Mar 12, 2010, 04:19 ET

LOS ANGELES, March 12 /PRNewswire/ -- The specific details of the offer have yet to be discussed with the City of Los Angeles. However, the SkyTag proposal is similar to the numerous development agreements the City has made with others over the years. The current development agreements have had a very positive effect on the economy and vitality of the Hollywood district and the growth of new businesses.

(Photo: http://www.newscom.com/cgi-bin/prnh/20100312/LA69916)

The upside to the new agreements is the significant revenue that will be generated for the benefit of the community, millions of dollars to enhance the environment and quality of life in Hollywood and throughout Los Angeles. The addition of these new development agreements will assist the City in meeting its budget crisis and help avoid job layoffs and cut backs in public services.

The few Supermurals that will generate this revenue are in commercial zones where large commercial and non-commercial displays have existed for many years. The City of Los Angeles has always referred to itself as the "Mural Capital of the World." This new opportunity will confirm L.A.'s creative spirit and vision.

Contact: [email protected]

SOURCE SkyTag