Fortunately for some members on the Redevelopment Agency, they are legally bound not to publicly discuss or disclose what the Agency’s projects entail. By just being a citizen, I’m not under any such restrictions. What you are about to read is not speculation or wishful thinking on my part, but the facts, as I know them.
Historical Background
Way back in 1994, the Redevelopment Agency negotiated with the G.M. Corp. to set up a dealership at Sepulveda Boulevard and Slauson Avenue. To close the deal, the Agency gave G.M. a $1,163,547 discount on the purchase price. But only with the understanding that if the property was ever refinanced or sold, the $1,163,547 would have to be paid back to the Agency. Late in 2005, the Hooman Automotive Group showed interest in the industrial tract where my family’s tool and cutter-grinding business has been for over 50 years. The Group’s president, Hooman Michael Nissani, came out and made offers on several parcels, including our two adjoining lots. His offer of $100 per square foot seemed halfhearted and quite low. I refused it, and we made a counter-offer. He did not reply to it. I later heard from neighbors that some of his offers had been accepted and had even made escrow, but were allowed, later, to fall through.