The late Margaret Olley’s bequest for money to be donated to the Newcastle Art Gallery will held in trust until a decision on the redevelopment is reached
A delegation of city leaders, including the Lord Mayor and State and Federal members, will attempt to salvage the $21 million Newcastle Art Gallery redevelopment when they meet with Premier Barry O’Farrell tomorrow.
The state government has indicated it won’t contribute $7 million in funding, to match a Federal government’s commitment of the same amount.
Uncertainty around the project could see the federal funds withdrawn, while a cash strapped council is also reluctant to cover any funding shortfall.
Meanwhile part proceeds from the sale of Margaret Olley’s, former Newcastle home, which had been bequeathed to the gallery will be held in trust until the gallery project can be clarifed.
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