Interpreting Grand decision

Just what did city and county officials overseeing the $3-billion Grand Avenue project decide to do at yesterday's meeting? The LAT reports that they turned down a request by developer Related Cos. for an eight-month delay in the project, to Feb. 15, 2009. But the Downtown News says that the officials merely delayed voting on a construction schedule for at least seven weeks. That will provide additional time to negotiate a schedule with Related. "They're not trying to change Related's time schedule," John Edmisten, assistant CEO for the county, told the DN. "They just wanted time to be able to come up with some more assurances that this extension will be the final one."

Related of California President Bill Witte said the Authority's decision does not change the developer's game plan. "We're going to do the same thing we were going to do anyway, which is continue with our construction documents," he said. "I think what the committee is looking for is to see that we have proceeded without slowing down."

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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