The City Council, acting as the Redevelopment Agency, has adopted a resolution establishing the city's intent to condemn property at 6327 Atlantic Ave., but city officials stressed that they would continue to negotiate for the property.
The city would like to acquire the property, a vacant 1.6-acre site that was formerly home to the Atlantic Lumber Yard, to to be used with other sites fronting Atlantic Avenue for development as a shopping center, said David Meyer, director of community services.
He said the resolution was necessary to "demonstrate to the property owner that the agency is serious about acquiring the property." The city has made an offer of $1 million for the site. However, the city will enter into "serious negotiations" to acquire the property rather than condemn it, said Meyer, who noted that the threat of condemnation would also produce additional tax benefits to the property owner once a sale is final.
The property is alongside the former Maywood-Bell Ford property, a site now owned by the Los Angeles Unified School District. The city has agreed to share tax increases generated by the redevelopment project with the school district in exchange for the right to buy the school district parcel.
Once both properties are acquired, Meyer said, the city would like to sell the land to a developer who would build stores from Gage to Randolph avenues.