Casden Ready to Buy Forum If Sale to Church Collapses.IT' s been well publicized that the Forum arena in Inglewood is in the process of being bought by the L.A. Arena Co. and Faithful Central Bible Church Faithful Central Bible Church is a "megachurch" with a congregation that is largely African-American. It is based in Inglewood, California, and Bishop Kenneth Ulmer is the pastor. . And those buyers expect to close before year-end, preserving the Forum for use by sports teams, ice skating ice skating, gliding along an ice surface on keellike runners known as ice skates. Skating as a Sport Skating, besides being an important form of winter recreation and the essential skill in the game of ice hockey (see hockey, ice) has developed shows, church services and other events. But that scenario is not yet secure, so private real estate investment trust Casden Properties Inc. has positioned itself to swoop in to buy the 30-acre property and bulldoze bull·doze v. bull·dozed, bull·doz·ing, bull·dozes v.tr. 1. To clear, dig up, or move with a bulldozer. 2. To treat in an abusive manner; bully. 3. the Forum, if the church deal unravels. "We've agreed that if the church wants to buy it, we would be glad to step aside," said Alan Casden Alan I. Casden (born 1945) is a self-made real estate billionaire who lives in Beverly Hills, California. He is an accounting graduate of what is now the Leventhal School of Accounting at the University of Southern California. Mr. , chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Casden Properties. "But so far that hasn't (happened) yet." L.A. Arena Co. officials stressed that Casden is the fall-back option. "They really are in a back-up position, should we not be able to complete our deal with (the church), spokesman Michael Roth said. Casden declined to say what he thinks will happen next. "I'm not an oddsmaker odds·mak·er n. One who calculates and sets betting odds based on the prediction of the result of a contest such as a horserace or an election. ," he said. "That's left to Las Vegas." If handed the keys to the Forum, Casden would raze raze also rase tr.v. razed also rased, raz·ing also ras·ing, raz·es also ras·es 1. To level to the ground; demolish. See Synonyms at ruin. 2. To scrape or shave off. 3. the building and seek entitlement to build somewhere in the neighborhood of 500 residential units, possibly as soon as next year. The property is contiguous with 97 acres of former Hollywood Park land that Casden also is in escrow to buy from Pinnacle Entertainment Inc. for $63 million. Casden has filed plans with the city of Inglewood to build 2,000 homes, condominiums and townhouses on the Hollywood Park land, south of West 90th Street. Meanwhile, if the deal currently in escrow does go through, the Inglewood church plans to retain L.A. Arena Co. to run the venue as a "family arena" that would help draw business to Inglewood. The church, which has 11,000 members, would hold its Sunday services at the venue and put any profits from the Forum's other operations back into the church and its community programs. The church is now crunched into a temporary 2,500-seat, converted warehouse in Inglewood. |
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