Philanthropist Eli Broad has agreed to fund a new building for contemporary art for the Los Angeles County Museum of Art. “In a memorandum of understanding with museum leaders, Broad has laid out plans to pay for ‘every penny’ of a new, 70,000-square-foot building, said LACMA board Chairman Wally Weisman. The new building, tentatively dubbed the Broad Contemporary Art Museum at LACMA and projected to cost roughly $50 million, would stand along Wilshire Boulevard just east of the former May Co. building now known as LACMA West.”