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Parcel B Back on City Council Agenda Tonight

The council will discuss a resolution to approve the terms and conditions agreed upon with the Combined Properties/Hudson Pacific group back in January, to develop the property at 9300 Culver Blvd.

It’s been eight and a half months since the City Council selected the Combined Properties/Hudson Pacific Group to develop Parcel B at 9300 Culver Blvd.

, the City’s newly formed agency – known as the Successor Agency – must now officially approve the terms and conditions of the Disposition and Development Agreement, which was entered into with the developer on Jan. 31, 2012.

The agreement with Combined/Hudson includes the redevelopment of Parcel B including the development of a high quality office and retail complex, subterranean private and public parking improvements, and other public improvements relating to the expansion of the existing Town Plaza Project. 

Mayor Andy Weissman told Patch that the resolution “primarily approves, subject to specific conditions precedent, the City’s transfer to the Successor Agency of the residual proceeds received by the City from the sale of that portion of the Parcel B Property defined in the DDA as the “Developer Parcel” to the Developer pursuant to the terms and conditions of the DDA.”

Tonight’s meeting will take place in City Hall Chambers at 7 p.m., after the mayor and council members as part of the lead up to Fiesta La Ballona.

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Chris Manning August 15, 2012 at 02:20 AM
I meant to go to this meeting last night. Does anyone have an update as far as what was discussed? I've been following this project ever since I saw the final design plans. I can't wait to see it completed (even though I know I'll be waiting a while). Any info's appreciated. Thanks!
Kelly Hartog (Editor) August 15, 2012 at 04:14 PM
Your wish is our command, Chris! http://culvercity.patch.com/articles/parcel-b-development-takes-a-small-step-forward
Chris Manning August 15, 2012 at 07:05 PM
You are too kind. Thank you very much and keep up the excellent work!

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