Chamber to Give Control of Hollywood Sign to City
The Hollywood Chamber of Commerce has agreed to surrender control of the landmark Hollywood sign and dissolve a trust fund of more than $250,000 set up to maintain it.
Part of the money will go to the city Recreation and Parks Department, which will assume responsibility for maintaining the sign, sources said. The group has also reportedly agreed to repay the trust more than $40,000 in interest, in addition to the $45,000 in interest it voluntarily repaid last June after allegations became public that it mishandled funds earmarked for the sign’s upkeep.
The chamber’s decision comes as the attorney general’s office was about to conclude an audit of its finances.
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