Central Library Project Faces New Delay

The ambitious project to renovate and expand the Los Angeles Central Library is facing another delay, with the developer asking for up to six months more to obtain the financing necessary to begin construction.

The delay is one of a series of setbacks, including a $22-million arson fire at the library last April, that has caused some city officials to worry that the deal, as originally conceived, cannot not be carried out.

The project would include a refurbished and enlarged library; two new adjacent office towers; a new park on the west lawn of the library grounds, and a monumental outdoor stairway rising in front of the library and linking the modern high-rises on Bunker Hill with the rest of downtown below.

Present plans call for the Community Redevelopment Agency to renovate the library with money provided by the developer, Maguire Thomas Partners, in payment for the rights to exceed zoning restrictions in building the two towers, the first of which would rise 73 stories.

Maguire Thomas’ first payment to the CRA, about $27 million, already delayed twice, was due Dec. 15. Construction of the first tower was to begin two weeks later. In addition, the CRA was to use a portion of the first payment to finance continuing library design work.

But the payment was not made, according to CRA officials and a spokesman for Maguire Thomas.

Nelson Rising, a partner in the development company, said Wednesday that his firm is asking the CRA for a postponement of up to six months because his firm is behind schedule in finding tenants for the first tower.

CRA Officials said Wednesday that they would be willing to grant the six-month extension providing Maguire Thomas would guarantee payment of enough money to allow the agency to proceed with designing the library and pay in advance interest on the $27 million.

The CRA’s Richard D’Amico and Rising conceded that the request for the early interest had become the main sticking point in the negotiations.

However, both men, along with CRA Administrator John Tuite, said they are confident that an agreement can be reached. Tuite said the CRA board is scheduled to take up the matter at a meeting Friday.