This is big news if it actually comes to fruition and the park is funded. From the
Los Angeles Downtown News:
Image Source: Los Angeles Downtown News
City Has Tentative Deal to Buy Civic Center Plot for a Park
State Considering $7.5 Million Sale of ‘Graffiti Pit’ Site
Wednesday, May 1, 2013
by Ryan Vaillancourt, Staff Writer
The city has reached a tentative deal to pay $7.5 million for a state-owned parcel at First Street and Broadway that has been a Civic Center blight spot for 35 years. The city is planning to turn the property just west of City Hall into a park.
The city Board of Recreation and Parks in March approved a plan to buy the two-acre site using an array of financial sources, including Quimby fees (charged to developers to pay for park creation), zone change fees and money from a Recreation and Parks Department capital improvement fund.
In total, the commission approved a plan to spend $9.9 million to acquire the site and to pay for demolition work needed to clear the property of an underground parking facility.
Read the rest of the article here:
http://www.ladowntownnews.com/news/city-...a0289f2-b280-11e2-a9fc-001a4bcf887a.html