Burbank Agency Gets Redevelopment Loan
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The Los Angeles County Community Development Commission will loan $12 million in federal funds to the Burbank Redevelopment Agency to allow it to purchase land and make improvements around the city’s downtown mall project.
The loan, approved Tuesday by the County Board of Supervisors, will be available for city use by mid-July, redevelopment Director Bill Kelly said. Kelly said the redevelopment agency will buy land around the $179-million mall project in an effort to control development there.
Kelly said that the land will be cheaper if purchased now, than it would be after the mall is built. The project includes 41 acres in downtown Burbank.
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