The goal is to create a new way to experience the art and as a way to look at the surrounding environment.
"Los Angeles is the creative crossroads of the world, undeniably," Mayor Eric Garcetti said during the Tuesday announcement.
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The first biennial will focus on the city's relationship with water, specifically with the river. Los Angeles was one of four cities selected from more than 200 applicants to receive a $1 million grant from Bloomberg Philanthropies in their public art challenge.
The money will be matched by the Department of Cultural Affairs private arts development fee program.
"Public art is a communal activity. It inspires people to talk, to think, to re-imagine, to enter a museum that has no walls," Garcetti said.
The biennial will kick off in July for one month with the sites to be announced soon.