Fugazi had been rumored to be reuniting to play Washington, D.C.'s Fort Reno park this fall, but Canty says "it's not happening. I don't know who started that rumor. We would have had to have been pra

With iconic hardcore act Fugazi's five-year hiatus showing no signs of letting up, drummer Brendan Canty is at work on a new album with the Make-Up's Ian Svenonious in addition to his busy schedule helming the "Burn To Shine" DVD performance series.

Fugazi had been rumored to be reuniting to play Washington, D.C.'s Fort Reno park this fall, but Canty tells Billboard.com "it's not happening. I don't know who started that rumor. We would have had to have been practicing. We can all have a moment of silence that day together."

Canty chalks up Fugazi's present state of affairs to several logistical reasons, primarily that three members have families, and thus touring would be increasingly difficult.

"The way Fugazi is meant to function is running at full speed," he says. "When it became half, we dealt with it. At a quarter, when we had to stay home most of the time, suddenly it stopped feeling like Fugazi. Instead of waiting around years to do Fugazi, we said, 'Let's run in our separate directions and we'll revisit it when it comes time.'"

"[But] the compass isn't pointing in that direction," he continues, noting that bassist Joe Lally recently moved to Rome. "If it pointed us together and something made sense, sure. I love those guys. They're my brothers. I could see plugging back in and doing it. We didn't end fighting and we wouldn't start again fighting."

Canty admits the band gets occasional offers to play special shows, but says financial reward has never been an incentive to perform. "We've turned down a lot of money in the past to do things we weren't comfortable with," he says. "Fugazi would get together to play Maxwell's [in Hoboken, N.J.]. We wouldn't get together to play Coachella. No amount of money would get us out of our houses."

That said, Canty toured with Bob Mould's band in 2005 and is enjoying recording with Svenonious and his friend Tom Bunnell. "It's all over the place," Canty says of the as-yet-unnamed project, which he hopes will be out before the end of the year. "Initially we started working towards a solo record for Ian. He had this concept of wanting it to sound like a radio program with a million different songs coming on. In between, there'd be spoken word with music behind it. We've got a lot of that, and it's really f*ckin' out there."

"He's one of the greatest conceptual artists I've ever met," he says of Svenonious. "Some nights we'd get in and write five things that were loud. It feels like a band. You don't know what it is, but it's productive."

There is one piece of Fugazi product new to the marketplace this month, in the form of Glen E. Friedman's photo book "Keep Your Eyes Open: The Fugazi Photographs." The tome was issued Sept. 3, the 20th anniversary of the band's first show.