Council considers 31 years of free rent for Mall-by-the-Sea Developer

Tonight our City Council will decide whether to approve a lopsided MOU that commits the City to $25M in infrastructure investment PLUS footing the bill to reconfigure Seaside Lagoon PLUS finding the funds to build a boat ramp at Joe's Crab Shack while offering CenterCal free rent for 31 years unless they exceed 10% profit (and who is going to determine that?).  Read more at the BBR website.

This is the most lopsided agreement I have ever reviewed.  CenterCal's Mall-by-the-Sea plan is 15% larger than Plaza El Segundo packed into just 15 acres - 3x the density of Plaza El Segundo.  Will our streets take the traffic required to make this overbloated development successful?  What are the chances of success when there are four malls competing for the same clients that have better road access and more customer draw area (half of CenterCal's draw area is the Pacific Ocean, and fish don't shop).  This is a high risk project... and CenterCal and the City know it.   Otherwise, why would they require such a one-sided MOU?
Whether the development is successful or not, residents will see a virtual wall of one to three story development between Harbor Drive and our harbor - including a three story parking structure at Beryl and Harbor and a movie theater...
Is this a harbor or a shopping mall?  CenterCal is packing 10 pounds of development into a 5 pound bag.  This is bad for residents and bad for the city.