Current status: Little Tokyo Service Center (LTSC) is in the midst of a $23million capital campaign to raise the funds to cover the costs of construction.
In October, LTSC and the Budokan project received $1million grant from the County of Los Angeles through Proposition A. The campaign is now over the 50% mark to completion!
Funding: Over 50% (roughly $12.7million) of the funds have been solidified through public sources as well as individuals.
The remainder of the funds will come from the following sources:
1) Public funding: City, County, State, Federal
LTSC is looking to raise the remaining funds by early 2016.
Real Estate: Currently in the entitlement process, which is to obtain permits through the City of Los Angeles, to gain clearance for what LTSC is planning to build. This process needs to be started early because it can take anywhere from 16-18 months.
LTSC plans to breakground in the 2016.