COUNCIL OKS QUAKE LOAN FOR FILM STUDIO IN VALLEY.Byline: Patrick McGreevy Daily News Staff Writer Seeking to encourage the film industry to remain in the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. , the Los Angeles City Council  The Los Angeles City Council is the governing body of the City of Los Angeles, California, United States. approved a $695,000 loan
Tuesday for owners of a Canoga Park studio to meet earthquake-safety
standards.
The loan to Robert Papazian and James Hirsch, owners of Ray-Art Studios, will help them comply with standards adopted after the 1994 Northridge Earthquake The Northridge earthquake occurred on January 17, 1994 at 4:31 AM Pacific Standard Time in the city of Los Angeles, California. The earthquake had a "strong" moment magnitude of 6. . The owners are spending $18 million to upgrade and expand the studios. The property was a Redken shampoo shampoo a cleaning agent, usually liquid, for hair; usually consists of a detergent and perfume. Some, usually referred to as medicated shampoos, contain therapeutic substances such as parasiticides, antimicrobials, ketatolytic agents, and antiseborrheic compounds such as selenium factory until 1995, when developer Robert Selan converted the 189,000-square-foot facility into soundstages. Selan sold the 11-acre property to Papazian and Hirsch last year. Papazian and Hirsch, producers of the ``Nash Bridges'' television show, plan to double the number of soundstages to eight to meet the growing need for studio space. ``There is so much demand for product with all of the cable companies and the new networks . . . and it's going to require a place to do it all,'' Papazian said. City Councilwoman Laura Chick, who represents Canoga Park, said the financial assistance is warranted because the industry is an important part of the city's economy. ``The industry is growing and continuing to provide an economic base and jobs in the west San Fernando Valley,'' Chick said. ``We've rolled out the red carpet.'' Chick said the owners also are planning to expand a cafeteria to create a new restaurant open to the public. In recent years, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. officials have provided similar incentives for film studios such as DreamWorks SKG SKG Stichting Kwaliteit Gevelbouw (Dutch) SKG Spielberg, Katzenberg,and Geffen (DreamWorks Studios) SKG Thessaloniki, Greece - Thessaloniki (Airport Code) SKG Smith and Kraus Global to stay in the city because the industry provides high-paying jobs for skilled workers. Ray-Art has have been used for the movie ``Blade'' and TV shows ``413 Hope Street'' and ``Nothing Sacred.'' Cody Cluff, head of Entertainment Industry Development Corp., said Ray-Art will be able to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the need for large soundstages. ``It (demand) is extremely high,'' Cluff said. ``We don't have enough space. All of our soundstages above 10,000 to 15,000 square feet are booked through 1998.'' |
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