Real Estate/Development
Mar. 21, 2008
Grand Avenue Hotel Tax Break Nears Approval
The Los Angeles City Council is expected to approve the final public financing contracts with Related Cos., developer of the $3 billion Grand Avenue project, in the next 60 days.
Daily Journal Staff Writer
This article appears on Page 1
LOS ANGELES - At the same time Mayor Antonio Villaraigosa is preparing city departments for layoffs because of a budget deficit that may reach $500 million, officials are on the verge of expanding tax rebates to luxury hotels that could total $400 million in lost revenue over the next 20 years.
The Los A...
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