News late last week suggested that a trio of pivotal US conservation agencies had come together to rescue the 1924 icon, which has been featured in classic films such as Blade Runnerand House on Haunted Hill.
The three organisations - the National Trust for Historic Preservation, the Frank Lloyd Wright Building Conservancy and the Los Angeles Conservancy - have created a single board to be known as the Ennis-Brown Foundation.
The move will pave the way for the final stages of raising the $4 million needed for a seismic retrofit of the building - the stabilisation needed to withstand an earthquake.
In March, the building was labelled unsafe for habitation by Los Angeles authorities after a spate of nearby mudslides weakened its structural integrity (AJ 10.03.05).
Additional money - rumoured to make total project costs soar to between $12 million and $15 million - would be needed to complete subsequent phases, which would include replacing the building's windows and roof.
Los Angeles Conservancy executive director Linda Dishman told the AJ: 'The house had been in a bad condition for years, and the rains caused it some serious damage. It's hoped that we can now begin work on the first phase in the next 60 days.'
The organisations have been meeting informally since April.