As previously reported, the Capitol Records building, just a few blocks from where I'm blogging, was threatened by the construction of an underground condo parking lot that would have come within six yards of the label's historic and legendary underground recording studio. But, according to a recent report at LAist, Julie Wong at Councilman Eric Garcetti's office stated some good news regarding the matter in an e-mail:

"Capitol Records and Second Street worked out a private agreement between them. Both parties were satisfied with the mitigations (which included Second Street putting $1.5 million in an escrow account to cover any losses that Capitol might incur as a result of Second Street's construction) and there wasn't really any contention during the council meeting.

Both parties have agreed on a term sheet which we anticipate will reflect the terms we negotiate in a final agreement," an EMI spokesperson said. "This agreement will protect the acoustic integrity and operations of the Capitol Records Studios and ensure it continues as one of the world's premiere recording facilities, as it has for more than 50 years."

Mitigation details:

- Construction equipment and activities will be prohibited after 10:00 a.m. within 40 feet of the property line in order to make sure that our clients' sessions are not interrupted.

- SSV will not use any steel tracked construction equipment and will use alternative measures.

- Creating a sound baffle using a foam liner between the underground garage and the property line of Capitol Records to ensure that Capitol Studios' storied echo chambers are not impacted.

- There will be ongoing noise and vibration monitoring during the entire length of the project.

- Construction equipment and activities will be prohibited after 10:00 a.m. within 40 feet of the property line in order to make sure that our clients' sessions are not interrupted.

- SSV will not use any steel tracked construction equipment and will use alternative measures.

- Creating a sound baffle using a foam liner between the underground garage and the property line of Capitol Records to ensure that Capitol Studios' storied echo chambers are not impacted.

- There will be ongoing noise and vibration monitoring during the entire length of the project.