Woo Asks Agency to Seize Developer’s Bond
Los Angeles City Councilman Michael Woo urged a city agency Friday to seize a developer’s $250,000 bond because the developer failed to install traffic improvements to ease congestion in Studio City.
The Board of Public Works took no action on Woo’s request.
The target of Woo’s anger is the developer of the 25,000-square-foot Times Square mall at 12215 Ventura Blvd.
Diana Brueggemann, a deputy of Woo, said the development team, led by Mitch Francis, was required to post a $250,000 bond with the city to guarantee that he would install a double left-turn lane at Ventura and Laurel Canyon boulevards and other improvements. But the work has not been done, she said.
Steve Getzoff, a partner in the Times Square project, complained that the development group has spent $50,000 on traffic studies but has been unable to get the city to decide what improvements are needed.
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