Federal officials announced this week that they would put the government's interest in a proposed outlet shopping mall in Carson up for sale.
The Federal Deposit Insurance Corp. inherited $28 million in loans on the 157-acre Metro 2000 site when it took over Consolidated Savings and Loan of Irvine in 1986.
FDIC spokesman Andrew Porterfield said the agency will sell the loans to the highest bidder. A date for the sale has not been set. Approval from FDIC officials in Washington is still pending, Porterfield said.
Metro 2000 spokesman Arthur Caracoza said Metro has already made a bid on the loans.
The property, which is at the intersection of two major freeways, is one of the largest undeveloped sites in Los Angeles County.