LOS ANGELES COUNTY : Developer Agrees Not to Sue MTA Over Red Line Project
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Metropolitan Transportation Authority officials won a concession from a Wilshire-district developer who was given a controversial $1-million loan.
Developer Wayne Ratkovich has agreed not to sue the transit agency for any building damage or financial losses at the Wiltern Theatre and an adjoining office complex that are caused by the construction of the Red Line subway.
After Ratkovich threatened to sue the MTA in June, the agency voted to approve separate loans of $300,000 and $1 million. The $300,000 loan was not secured by collateral.
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