The Guggenheim Museum has reached an agreement with New York City on the site for its new $678 million 520,000-square-foot Frank Gehry-designed museum complex in Lower Manhattan. The project includes 279,000 square feet of public parkland, an outdoor sculpture garden and a 1,200-seat performing arts center. NY mayor Rudolph Giuliani is “also expected to announce that the city will provide the museum with $67.8 million — 10% of its total cost — in capital funds.” – New York Daily News