Another Grand Ave Delay Likely

"Related Cos. is unlikely to break ground on the $2.7 billion Grand Avenue project in February, marking yet another delay for the downtown development that has already missed several start dates...“February would be a push under the best of circumstances. Nobody is even talking to people about making loans right now,” said Bill Witte, president of Related of California." The delay means that Related will have to pay fines of $250,000 for every month that goes by without construction on the planned sprawling downtown development. It's not immediately clear what city officials do with that money, but wouldn't we all like to know. [LABJ]