Jul 29, 2014

Parcel B Development Still on Standby

While the City of Culver City is eager to move ahead with Parcel B and other projects, its hands are currently tied, until the State Department of Finance gives it the green light.

Parcel B Development Still on Standby

While the City is moving forward with several large building projects in Culver City, the much-heralded, long-awaited Parcel B development project appears to be mired yet again in bureaucratic red tape, thanks to the loss of Redevelopment Agency funds.

The City has taken all the appropriate steps to hopefully move production forward on Parcel B, but is entirely dependent on the State of California now that the both the City Council and the City’s Oversight Board of the Successor Agency to the Redevelopment Agency has approved the terms of Disposition and Development Agreement for Parcel B.

Assistant City Manager Martin Cole told Patch that “despite the efforts of the City Council and City Staff in support of the Parcel B project (including meeting with representatives of the State Department of Finance in Sacramento), the State is insisting the City proceed through the requirements of the Redevelopment Dissolution Act prior to allowing the City to proceed with almost any former redevelopment agency projects, including Parcel B.” (Click on the PDF to the right of this article to see the RDA requirements.)

Meanwhile, Cole said, the City is continuing to work to meet the requirements of the Dissolution Act “as quickly as state legislation will allow.”

Cole added, the City hopes to hear some form of response from the State Department of Finance in “the coming months.“ However until the department gives its approval, the City cannot move forward on Parcel B.

“Once the State Department of Finance provides its approval, the City will rapidly proceed with many deals that are currently on hold, including Parcel B,” Cole said.

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