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Article: MTA deal with Hollywood stores may be nearing. (Metropolitan Transportation Authority)
- Article from:
- Los Angeles Business Journal
- Article date:
- January 8, 1996
- Author:
CopyrightCOPYRIGHT 1996 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Several Hollywood Boulevard retail businesses in danger of being evicted and closing their doors were given a reprieve over the holidays, when a Metropolitan Transportation Authority official told their landlords the MTA was close to approving an agreement to pay four months' rent each for the businesses.
If the agreement is inked, it would mark the MTA's first-ever admission of liability for continuing business disruption due to subway system construction, and a possible first step toward settlement of a $1 billion lawsuit filed by a coalition of hundreds of business and property owners hammered by Metro Rail construction problems.
The eight businesses ...