Biloxi buys Ohr-O’Keefe Museum, leases property to management company

The City of Biloxi has bought the Ohr-O’Keefe Museum of Art and entered into a lease agreement on the property for management.

The city council voted unanimously Tuesday night to buy the property for $1 and then leased the property back to the Ohr-O’Keefe Museum of Art, Inc., as the management agency.

Councilman George Lawrence was absent for that vote.

The city’s move makes the museum city property — a point that gains significance because it makes the museum eligible for state and federal grants for expansion and improvements.

The management agreement is for five years, subject to termination with 60 days written notice. The Museum will receive $5,000 a month management fee and keep all revenue.