A newly approved agreement between the city of San Antonio and Texas A&M gives the university a lease on the Museo Alameda, the iconic pink building in Downtown San Antonio, which it plans to turn into a cultural arts center.
The new deal ends the 25-year contract of Centro Alameda Inc., the nonprofit originally formed to run the museum, but which was plagued by bad business decisions, poor financial planning, insufficient community outreach and scandal. The city cut funding to the beleaguered org in 2011, after a last-chance city bailout failed to put it back on track.
The lease between the city and Texas A&M would be for five years (at $1 a year) with a 20-year renewal option. The city would cover the building’s operating costs and programming of up to $455,000 annually, which would come from the Market Square and Cultural Affairs Funds. The center will be re-named, but will continue its focus on Latino arts.