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Stock Exchange Nightclub

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CALIFORNIA | LOCAL
November 24, 1988
Los Angeles redevelopment officials Wednesday backed down on plans to foreclose on the downtown Stock Exchange nightclub, agreeing instead to allow the club's owners to repay a $250,000 loan over several months. The Community Redevelopment Agency Board of Commissioners authorized CRA officials to negotiate a payment plan that would enable TSE Club Inc. to pay off the loan in installments plus about $7,000 interest.
ARTICLES BY DATE
CALIFORNIA | LOCAL
May 15, 1990
City Councilman Zev Yaroslavsky on Monday castigated the Los Angeles Community Redevelopment Agency for lending $250,000 in "essentially unsecured" public funds to the Stock Exchange nightclub downtown, which has since filed for bankruptcy and never repaid the loan. Yaroslavsky called for a new city policy that would make sure the city is "not subordinated" behind several other lien holders when it makes loans.
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CALIFORNIA | LOCAL
May 15, 1990
City Councilman Zev Yaroslavsky on Monday castigated the Los Angeles Community Redevelopment Agency for lending $250,000 in "essentially unsecured" public funds to the Stock Exchange nightclub downtown, which has since filed for bankruptcy and never repaid the loan. Yaroslavsky called for a new city policy that would make sure the city is "not subordinated" behind several other lien holders when it makes loans.
BUSINESS
April 23, 1990 | From United Press International
Receiver Named to Oversee Nightclub: A Los Angeles Superior Court judge appointed a receiver to oversee the Los Angeles Stock Exchange, a downtown Los Angeles nightclub that closed recently. The order was requested by National Bank of Long Beach, which sued the partnership-owner of the nightclub, asking the building be sold to repay more than $3 million for an overdue note. (Filed April 18, 1990. Case No. C758707)
CALIFORNIA | LOCAL
September 7, 1988
What's all this talk about using a $1.5-megabuck loan to the Stock Exchange nightclub for more worthwhile "social purposes" like housing and feeding the homeless ($1.5-Million CRA Loan to Nightclub Stirs Up a Ruckus," Metro, Aug. 27)? Why, who's more important, the trendy Hollywood groupies and the Prince and Princess of York or a bunch of social derelicts, misfits and outcasts? Better to use the funds on an enterprise that has a chance of making a (dare I say the word?) profit than in some other less noble venture.
CALIFORNIA | LOCAL
August 22, 1989
The Board of Directors of the Los Angeles Community Redevelopment Agency has voted to take legal action for repayment of a controversial $250,000 loan to the owners of the downtown Stock Exchange nightclub, according to the CRA's chief deputy administrator, Judy Broverman. Broverman said Monday that the CRA board voted to sue two owners of the club who had pledged personal assets against the loan, which she said came due at the end of June.
CALIFORNIA | LOCAL
October 22, 1988 | JILL STEWART, Times Staff Writer
A loan made in June to the elegant downtown Stock Exchange nightclub by the Community Redevelopment Agency is now more than a week overdue for repayment and City Councilman Zev Yaroslavsky on Friday blasted the agency for making a "sweetheart deal" that it may not have fully secured. The $250,000 loan, due with $6,250 interest Oct. 13, was made June 15 to keep fire officials from closing the club for its inadequate sprinkler system and other safety problems.
CALIFORNIA | LOCAL
August 27, 1988 | JILL STEWART, Times Staff Writer
Homeless groups and the Legal Aid Foundation of Los Angeles, in a mounting feud with the Community Redevelopment Agency over its role in downtown Los Angeles, are assailing a $1.5-million loan the agency made to complete work on the glitzy Stock Exchange nightclub and to renovate the floors above it.
BUSINESS
April 23, 1990 | From United Press International
Receiver Named to Oversee Nightclub: A Los Angeles Superior Court judge appointed a receiver to oversee the Los Angeles Stock Exchange, a downtown Los Angeles nightclub that closed recently. The order was requested by National Bank of Long Beach, which sued the partnership-owner of the nightclub, asking the building be sold to repay more than $3 million for an overdue note. (Filed April 18, 1990. Case No. C758707)
CALIFORNIA | LOCAL
August 22, 1989
The Board of Directors of the Los Angeles Community Redevelopment Agency has voted to take legal action for repayment of a controversial $250,000 loan to the owners of the downtown Stock Exchange nightclub, according to the CRA's chief deputy administrator, Judy Broverman. Broverman said Monday that the CRA board voted to sue two owners of the club who had pledged personal assets against the loan, which she said came due at the end of June.
CALIFORNIA | LOCAL
November 24, 1988
Los Angeles redevelopment officials Wednesday backed down on plans to foreclose on the downtown Stock Exchange nightclub, agreeing instead to allow the club's owners to repay a $250,000 loan over several months. The Community Redevelopment Agency Board of Commissioners authorized CRA officials to negotiate a payment plan that would enable TSE Club Inc. to pay off the loan in installments plus about $7,000 interest.
CALIFORNIA | LOCAL
October 22, 1988 | JILL STEWART, Times Staff Writer
A loan made in June to the elegant downtown Stock Exchange nightclub by the Community Redevelopment Agency is now more than a week overdue for repayment and City Councilman Zev Yaroslavsky on Friday blasted the agency for making a "sweetheart deal" that it may not have fully secured. The $250,000 loan, due with $6,250 interest Oct. 13, was made June 15 to keep fire officials from closing the club for its inadequate sprinkler system and other safety problems.
CALIFORNIA | LOCAL
September 7, 1988
What's all this talk about using a $1.5-megabuck loan to the Stock Exchange nightclub for more worthwhile "social purposes" like housing and feeding the homeless ($1.5-Million CRA Loan to Nightclub Stirs Up a Ruckus," Metro, Aug. 27)? Why, who's more important, the trendy Hollywood groupies and the Prince and Princess of York or a bunch of social derelicts, misfits and outcasts? Better to use the funds on an enterprise that has a chance of making a (dare I say the word?) profit than in some other less noble venture.
CALIFORNIA | LOCAL
August 27, 1988 | JILL STEWART, Times Staff Writer
Homeless groups and the Legal Aid Foundation of Los Angeles, in a mounting feud with the Community Redevelopment Agency over its role in downtown Los Angeles, are assailing a $1.5-million loan the agency made to complete work on the glitzy Stock Exchange nightclub and to renovate the floors above it.
ENTERTAINMENT
November 17, 1988 | MARK I.PINSKY, Times Staff Writer
Orange County cable TV systems and cities took four of 14 "Diamond Awards" for excellence in local programming, presented Tuesday by the Southern California Cable Assn. in Los Angeles. Dennis Mangers, vice president of governmental relations for the California Cable Television Assn., told 350 people gathered at the Stock Exchange nightclub that "often, the small story--the one that affects a local constituency--doesn't get coverage by TV broadcasters because their mandate is larger in scope.
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