Pomona : Regional Shopping Mall
Forest City Development, which has been trying since October, 1990, to line up department store tenants for a regional mall, may be close to landing a volume discounter to help start the project, Pomona officials reported this week.
Deputy City Administrator James G. Funk said plans under discussion call for building the mall on a site at the Pomona Freeway and Corona Expressway in stages, starting with a discount retailer. He said the discounter would be the second major store to commit. Identities of the firms have not been disclosed.
To borrow $100 million to build the mall, Forest City must obtain commitments from at least three major retailers, Funk said, but could start the project with a single large store. He said the economy has made it difficult to obtain commitments, but he urged the City Council this week to continue to work with Forest City on the project. The council extended its negotiating agreement with the Los Angeles-based developer for six months.
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