A plan to provide developers with the land they need to build the proposed $96-million Inland Pacific World Trade Center has been postponed for at least 30 days while a consultant studies the city's role in the project.
A meeting had been scheduled Monday for the city to sell the downtown property where H. Thomas Felvey and his firm, Urban Equities Ltd., hope to build the 14-story international business complex. But, concerned about Felvey's financial integrity, the council decided not sell the land until a consultant could evaluate the commitments and the extent of risk being assumed by the city.
A May report in The Times disclosed that Felvey, the promoter and co-owner of the trade center, has left a trail of unpaid bills and unfinished projects throughout the Los Angeles area over the last decade, according to court records and interviews with more than two dozen former business associates and employees.
Council members Nell Soto and Mark A. T. Nymeyer were selected to interview a panel of prospective consultants for the analysis, which is expected to cost $5,000 to $15,000.
City Administrator Ora E. Lampman told the council that the consultant would probably require four to six weeks to complete the study.