Pomona : Request for Subsidy Denied
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The City Council has rejected a developer’s request for a subsidy of $10 million to $20 million to build a Buffums department store and other commercial buildings on 22 acres along Mission Boulevard, east of Garey Avenue.
Council members, who last September gave CSA Real Estate Development of Anaheim an exclusive right to negotiate an agreement to develop the property, expressed surprise this week that the firm had submitted a plan calling for a heavy subsidy from the city’s Redevelopment Agency.
“I never had any inkling that these guys were looking for $20 million,” said Councilman Mark A. T. Nymeyer. “Nothing could be more outrageous.”
The Redevelopment Agency cannot consider offers from other developers until its exclusive negotiating agreement with CSA Real Estate Development expires June 1. The CSA project would involve closing an existing Buffums department store and a furniture store on 2nd Street, then building new ones in a complex that also would include a new market and drugstore.
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