The famed Hollywood sign, in its original form. Promo photo.
The Los Angeles City Council was granted a 16-day extension to raise the final $1 million needed to purchase the land surrounding the Hollywood sign known as Cahuenga Peak. The sign's fate was to be determined today with the announcement of the fundraising totals from the Save The Peak campaign.
In a press conference held this morning near the sign, city officials were positive about the local support and the timeline extension to the end of April to preserve the historic icon.
Several ideas for development of the sign's environs have been proposed, but locals want to keep housing or hotel construction from obstructing the famous white letters above Hollywood.
The total sum of $12.5 million is needed to purchase the Peak acreage from a Chicago land owner, though the sign, itself, is owned by the City of Los Angeles..
With the Save the Peak dollar amounts so close to the goal , a few last-minute celebrity and business donations could secure a happy ending to this Hollywood story. Large donations have already been provided by Tom Hanks and The Getty Foundation, among others.