sr-031764-8fCITY OF SANTA MONICA 64-C-47
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DATE: March 5, 1968 ~" ~~ ,~
TO: The Honorable City Council ~ ? ~ ..
r1in~.G ~. a~ 954
FROM/: Ernest N, Mobley, City iJianager ='i~Y$a
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SUBJECT: Urban Renewal Pro'ect--Central Business Di`srx L~ ~ `~ "'' ''' "
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The Redevelopment Agency is seeking an expression-from the City Council with
respect to the disposition of the Capital Grant Reservation which will, unless
some affirmative action is taken, expire on March 21, 1964.
The area in question is outlined on the attached map. One square block of the
area, bounded by Broadway,; Colorado, Third, and Fourth, is the block on which
so much effort has been expended to attract afull-line department store. These
efforts have so far been to no avail, not withstanding a pledge by the Parking
Authority to assemble the land for a satisfactory tenant.
What action to take is not an easy question to answer, Completion of the Santa
iUIonica Freeway, the Third Street Mali, and the Causeway are certain to give
this community such a stimulus that it is inconceivable that the Central Business
Dastrict area will not materially benefit. On the other hand, if we are disap-
pointed in attaining either or both o£ the latter, redevelopment may well be the
only workable alternative to continuing decay.
Our present inclination is to recommend that the City Council and the Agency
turn back the reservation with a joint statement setting forth our appreciation
to the Housing and Home Finance Agency for their courtesy in holding the grant
for so long a period, our present intent to try to work out the problem ourselves,
and suggesting that if the future does not turn out as well as we now hope and
expect, we will apply again.
~"' ~ ~,
ERNEST iV. MOB LEY f
City Ntanager
ENM/ js
cc: City Clerk
Redevelopment Agency
Director of Finance--City Controller
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Santa Monica, Cali~'ornia
OFF/CiAL APPROVAL CERT/FiCATioN
ADOPTED 8Y THE PL ANNiNCj COMMISSION ~OF THE
CITY OF SANTA MONICA, CAL IA .. j
BY ~~ ~~ 2
DATE MAY 21,1962 IRMAN PRO-TEM
Arlo BY
SECRETARY
OFF/C/AL APPRO K4L CERT/F/CAT/ON
ADOPTED BY THE REDEVELOPMENT AGENCY O
CITY OF SANTA MONK L10 IA
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DATE MAY 23, Ig,62 -=pNp gy'`_'~-='
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"~- ATTEST:
DI RECTOR