City of Industry : Assessment District OKd
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The City Council has given tentative approval to creation of an assessment district near Brea Canyon Road that will contain several new warehouses, including a Circuit City distribution center.
The proposal approved Tuesday would allow Catellus Development Corp. to finance its $8-million project with a tax-exempt bond issue, relieving the city of any financial responsibility for the venture, said L.C. Bevington, a city consultant.
A public hearing is set for Oct. 24 at City Hall, where, barring any strong opposition, the City Council could approve the bond sale, scheduled for mid-November.
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