City Manager: City Council to review proposal in March
Written by MATTHEW WONG / Published December 9, 2011 (ONLINE ONLY)
An advisory body has recommended approval of The Gateway project, the city manager on Thursday stated.
According to the city manager’s weekly report on February 24, 2011, the Planning Commission recommended that the City Council approve a zone change and a conditional use permit, as well as adopt a subsequent mitigated negative declaration for developer Randy Wang’s project.
The City Council will now review the proposal on March 15, City Manager Jose Pulido stated.
Last month, the developer submitted his proposal to City Hall for review. He is working with city officials to secure approval of his project, which was formerly known as the Piazza at Temple City.
The developer has until March 31 to obtain City approval of his project. He must meet the federal government mandated deadline in order to solicit money from foreign investors as part of the EB-5 Immigrant Investor Program.
As a result of the poor economy, Wang is seeking overseas investors who will give either $500,000 or $1 million to support his project. Once they participate, they will be eligible to receive a permanent U.S. residency visa.
The developer hopes to attract 40 investors, or raise $20 million, he previously noted.
The Gateway project is proposed to be a 75,000 square commercial shopping center with spaces for retail, offices, two restaurants, and a market. The development is located on the corner of Rosemead Boulevard and Las Tunas Drive.
Meanwhile, former Temple City Mayor Cathé Wilson is expected to return to court on March 8 for her last pretrial hearing. She will likely face a trial in a few weeks over allegations of bribery and perjury in regards to the Piazza project.
Wilson is being accused of receiving $10,000 in bribes from the developer’s former project manager. She has maintained her innocence.
The scandal that plagued the Piazza project has resulted in two former city officials resigning from the City Council. A former mayor stepped down in 2009, while another former mayor is currently serving a 16-month sentence in state prison.