GARDEN GROVE : Developer Qualifies for $2-Million Check
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A developer will get a $2-million check from the city for achieving 70% occupancy of the Garden Promenade shopping center.
On Monday night, City Council members voted 4-1 to carry out part of a development agreement with Hughes/Lyon Garden Grove Associates of Newport Beach for the reconstruction of the former Orange County Plaza/Garden Grove Mall at the northwest corner of Brookhurst Street and Chapman Avenue.
That agreement calls for the city to pay $2,025,000 to the developer when at least 70% of the city-subsidized project is occupied.
In other action Monday night, the city approved:
* A three-month extension of a negotiating agreement with the Haagen/Smotrich Partnership for the development of a commercial project on a 28-acre site at the southwest corner of Garden Grove Boulevard and Euclid Street.
* A six-month extension to a negotiating agreement with Burke Commercial Development to build a 118,000-square foot retail and industrial project at Nelson Street and Garden Grove Boulevard.
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