SIGNAL HILL — The City Council has given its unanimous blessing to a tentative agreement that would allow a group of Long Beach auto dealers to move to a 26-acre auto mall planned along the San Diego Freeway.
The council also voted unanimously Tuesday night to begin buying property for the auto center.
Officials expect to have a final development agreement hammered out by the end of March. If all goes according to plan, the auto mall could be open by mid-1987.
Signal Hill officials predict the city will pay about $24 million to buy land for the mall, finance relocation of existing businesses on the site and fund improvements such as street paving and lighting. In return, the auto dealers would pay about $10.5 million over a seven-year period for the land.
Four Dealers 'Signed'
Four Long Beach auto dealers have committed themselves to moving to the mall, which would be bounded by Spring and 28th streets and Cherry and Junipero avenues.