Loan to Mall OKd in Concept
The Carson Redevelopment Agency has given conceptual approval to an $8.5-million loan to the owners of Carson Mall to finance a wholesale renovation of the financially ailing shopping center.
The agency, which consists of the five City Council members, directed attorneys and staff members to compile legal contracts for the loan to Carson Mall Partners. Councilwoman Vera Robles DeWitt abstained from the 4-0 vote at a special redevelopment agency meeting Monday.
The loan is part of more than $30 million in planned renovations to the mall and the soon-to-be-closed Broadway department store. The interior and exterior face lift of the mall is a key issue in negotiations to lure home furnishings giant Ikea as a replacement for the Broadway, which is scheduled to shut down by mid-December.
Final approval of the project could come after public hearings set for Dec. 3 and Dec. 17, said City Administrator Larry Olson.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
