Hearing Set for City to Sell Property

Thursday, July 07, 2016 Written by 
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There was only one item on Tuesday’s council agenda—to set a date for a special hearing to approve a disposal and development agreement between the City of Inglewood and developer Thomas Safran and Associates.

 

A special hearing was set for Thursday, July 21 at 2pm.   The City of Inglewood is acting as the successor agency to the now-defunct Inglewood Redevelopment Agency.  The proposed disposition covers a total of six parcels totaling four acres at Florence and La Brea Avenue; 125, 139, 140 and 150 North Market Street, which were formerly owned by IRA, and a City property at 101 North Market Street.  

 

The City Successor Agency is required to sell the development parcels for a purchase price of $8.3 million.

 

Thomas Safran and Associates plan to use the land for mixed use development.

 

On July 2014, a Request for Qualifications (RFQ) was released to locate development teams for various projects.  Safran was among the top five ranked and pre-qualified teams.  On March 24, 2015, the City Council selected Thomas Safran and Associates as having the highest ranked Request for Proposal (RFP) response.  

 

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