Pomona : Developer Gets Extension

Forest City Development has found two major tenants for its proposed regional mall but is having trouble lining up a third, city officials told the City Council this week.

Nevertheless, the council followed the redevelopment staff’s recommendation and granted the developer, who has been working on the project for a year, six more months to negotiate for tenants and financing.

Douglas Dunlap, deputy executive director of the redevelopment agency, said banks will not lend the $100 million needed for the project at the Pomona Freeway and the Corona Expressway until three major tenants have made lease commitments. The economic slump and the fact that retailers are preoccupied with the Christmas shopping season makes commitments difficult to obtain, he said.

The City Council also granted businessman Reggie Webb and attorney Cedric Elias an exclusive right to negotiate with the city for development of a golf course and restaurant on 225 acres in Phillips Ranch.

But Webb, who owns three McDonald’s restaurants in Pomona, said he is “not all that optimistic” that his proposed Rancho Palomares Country Club will be built on the city-owned land. He said the proposed site has such steep terrain that development costs may be prohibitive.

Nevertheless, the city’s agreement with Webb and Elias will give them six months to explore the possibility of building the golf course, restaurant and banquet facility, and to work out such details as land costs and financing.