CITY MAY EXTEND CARUSO AGREEMENT.Byline: Naush Boghossian Staff Writer GLENDALE - As the battle for control of the City's Town Center development heats up, the city will consider extending its exclusive negotiating agreement with developer Caruso Affiliated Caruso Affiliated is a real estate development company in California, U.S.A.. It is headed by Rick Caruso. It is known particularly for building higher-end outdoor shopping centers. Holdings, days after the operators of the Glendale Galleria The Glendale Galleria is a large 3 story regional shopping mall located in Glendale, Los Angeles County, California. It is the second largest mall in Los Angeles County. It is located in Downtown Glendale. submitted an alternate plan. The Redevelopment Agency is slated to vote on the extension Tuesday, which would grant exclusive negotiations to developer Rick Caruso until June 1, 2004. Caruso has also agreed to add $25,000 to his initial developer deposit of $125,000. But representatives for General Growth Properties General Growth Properties (NYSE: GGP) is a publicly traded real estate investment trust in the United States. It is based in Chicago, Illinois. History The company was founded by two brothers, Martin and Matthew Bucksbaum, in 1954. , which operates the Glendale Galleria, said it finds the proposed extension questionable. General Growth recently submitted a competing, yet unsolicited un·so·lic·it·ed adj. Not looked for or requested; unsought: an unsolicited manuscript; unsolicited opinions. unsolicited Adjective plan for the Town Center. ``We find it interesting that Caruso is rushing to extend his exclusive right to negotiate, which expired this past July, now - after General Growth has put forward a credible alternative to the Town Center project,'' said Arthur Sohikian, senior vice president of the communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. representing General Growth. City Councilman Bob Yousefian, the redevelopment agency chairman, said Caruso suggested the extension because they have been negotiating on a verbal agreement since the original expired July 24. ``They would feel better if we (gave) them a written commitment,'' Yousefian said. ``An exclusive negotiation agreement doesn't mean that we have to approve Caruso's project. That means we're not negotiating with somebody else, but it doesn't mean we have to accept what he's offering.'' Officials at Caruso Affiliated Holdings could not be reached for comment late Thursday. At Tuesday's City Council meeting General Growth is scheduled to present its plan, and Caruso will give an update on the project. The plan for the $172 million outdoor retail, entertainment and housing project, which is adjacent to the Galleria, was approved by the redevelopment agency on July 29. The extension of the agreement with Caruso's company would not definitively stifle any lawsuit General Growth may file in the future if their attempts to build the Town Center are quashed, City Attorney Scott Howard Scott Howard sings baritone with the Southern Gospel Quartet Legacy Five. He has been with the group since its inception in 2000. External Links Legacy Five's Homepage said. ``I think litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. continues to loom loom, frame or machine used for weaving; there is evidence that the loom has been in use since 4400 B.C. Modern looms are of two types, those with a shuttle (the part that carries the weft through the shed) and those without; the latter draw the weft from a as a possibility in the future, with or without the exclusive negotiation agreement,'' Howard said. If the agency votes Tuesday to support extending the agreement, Weaver believes that the lawsuit will come to fruition sooner rather than later. ``If at least three agency members say yes, it leaves General Growth one way to go and that's a lawsuit,'' Weaver said. ``That's what I've said from day one - they will sue.'' Naush Boghossian, (818) 546-3306 naush.boghossian(at)dailynews.com |
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