The City Council, acting as the Redevelopment Agency, has approved an agreement that will lead to a larger Price Club discount store as part of an $18-million retail center.
The complex, to be built within three years by San Diego-based Price Co., will cover 31 acres at Todd Avenue and Foothill Boulevard.
City Administrator Julio Fuentes said the deal is expected bring the city $35 million in tax revenue over the 25-year life of the center.
"It's a biggie," he said. "Not only for redevelopment, but for development in general. We've never had anything like it."
The current Price Club will be remodeled, and a larger Price Club will be built next to it on 13 acres owned by CalMat Properties, which the city will buy and then sell to the Price Co. A restaurant and a fast-food stand will also be part of the center.