Coral Gables votes 4-1 to buy Serra sculpture for up to $5M

Coral Gables plans to spend up to $5 million on a steel sculpture by the late Richard Serra. The City Commission voted 4-1 on Tuesday to let City Manager Peter Iglesias negotiate and sign a deal to buy the work, called “Fin.”

Commissioner Melissa Castro cast the only no vote, according to the city’s meeting record. Mayor Vince Lago, Vice Mayor Rhonda Anderson and Commissioners Ariel Fernandez and Richard Lara voted yes.

The vote went against the city’s own arts board. The Cultural Development Board recommended denial 4-2 on Oct. 20.

What the city is buying

The seller is Tresart Inc. The city’s cover memo describes “Fin” as “an inverted, truncated cone” from Serra’s series of curved steel works. It was one of his first pieces with sloped sides, the memo says. The city’s appraisal report dates it to 1989.

• Material: hot-rolled steel
• Size: more than 14 feet high and 18 feet wide, with a gentle curve and a slight backward tilt
• Proposed site: a new downtown park at Salzedo Street and Almeria Avenue, being built with the Regency Parc development
• Until then: stored by the city while the park is designed and built

Serra was born in California in 1938 and died in 2024. His large steel sculptures stand in cities from Iceland to New Zealand, the memo says.

Where the money comes from

The purchase would be paid from the city’s Art in Public Places fund, which the city runs under Article 9 of its Zoning Code. The resolution sets out the funding:

The price cap of $5 million covers the sculpture and its transport to a site the city picks. It does not cover insurance. The foundation, installation, lighting, signs and landscaping “will be funded separately,” the memo says. A conservation team will set the yearly upkeep cost once the work is installed.

What the deal must include

The resolution lets Iglesias walk away at any point if the key terms are not agreed. Those terms are:

• city staff inspect the sculpture in person before any agreement is signed
• the seller provides more records on the work’s provenance and past owners, and on any liens or ownership disputes
• the seller carries all risk of loss while the sculpture is moved
• a first payment when the deal is signed, with the balance paid after the city inspects and accepts the work at its chosen site

Why the arts board said no

Two city advisory boards reviewed the purchase this month. Both had questions about money and ownership.

The Arts Advisory Panel’s minutes say members “agreed that it was an exceptional artwork.” They asked for costs for installation, the foundation, weather protection, maintenance and storage. They also asked about other sites, including Centennial Park and Country Club Prado.

The Cultural Development Board’s minutes say members supported the quality of the work. They wanted more clarity on who owns it now and assurance of clear title. The board gave three reasons for its denial:

• “The time frame for agreeing to the purchase is artificial and unduly short.”
• Installation costs, the state of the public art fund and the location were still unknown.
• “The current purchase price would completely deplete all monies currently available in the fund.”

What it means for you

• The resolution draws the money from the public art fund. The arts board said the price would use up everything now in that fund.
• The installation, foundation and lighting will need separate approval and money later.
• The proposed park at Salzedo Street and Almeria Avenue is not built yet, so the sculpture would go into storage first.
• The deal is not done. It depends on the inspection and the ownership records.

Commission meetings are open to the public at the Police and Fire Headquarters, 2151 Salzedo St., and on Zoom. Our who to call at City Hall page lists how to reach each commissioner.