Monterey Park : City OKs Land Purchase
After a debate over whether the city’s Redevelopment Agency should be in the business of buying property, the City Council on Monday voted to begin the process of purchasing a $3.8-million tract for a retail project.
The land is in the 2300 block of South Atlantic Boulevard, half of which already is owned by the Redevelopment Agency. City officials, who want the entire block for a retail project, plan to buy the rest of the land and turn it over to a private developer.
Councilwomen Judy Chu, Marie T. Purvis and Rita Valenzuela voted to allow city officials to begin acquiring the property. That decision drew protests from Mayor Sam Kiang and Councilman Fred Balderrama, who argued that the South Atlantic Boulevard land could be developed successfully without city money.
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