The Ventura City Council has struck a deal with nonprofit Artspace, a Minnesota-based firm, to start work on a plan to provide homes and studios for at least 25 artists, reported the Los Angeles Times yesterday. The Council hopes they’ve structured the deal to provide a “permanently affordable community for artists,” Chris Velasco, Artspace Vice President, told the Times, with rents established far below market rate and let only to artists with moderate incomes. Artspace will own and manage the project. Why are they doing it? According to the Times, “Officials say the business of art brings revenue to localities in a way that other businesses do not.” If you’re a registered LA Times-er, you can read the full story here.