VENTURA : Council to Consider Building Parking Lot
A proposal to sink nearly $9 million of city money into a five-story parking garage downtown will be considered by the Ventura City Council today.
Two developers who want to build a movie theater and shopping complex say they are only interested in the project if the city will provide space for parking, city officials said.
Officials said they will tell council members that they can finance the parking garage through an assessment district, available city funds or a revenue bond, which the city would pay back with parking fees.
The theater, shopping center and parking lot development would wipe out almost everything standing on the block bounded by Main, Palm, Santa Clara and Figueroa streets, with the exception of Smokey’s Restaurant and the old Peirano’s Market, city officials said.
Most of the owners on that block have said they would be willing to sell, officials said, and the city will help displaced tenants relocate, as required by law.
Victor K. Georgino, a Burbank-based consultant, wants to build the 70,000-square-foot theater and has told the city that he has a ready tenant in the AMC Theater chain, officials said. Meanwhile, Pasadena-based Weirick Properties has proposed constructing a 50,000-square-foot restaurant and commercial center next door, officials said.
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