Los Angeles Business Journal

Glendale to Form Economic Development Corp.

By Business Journal Staff Wednesday, May 7, 2014

The Glendale City Council has approved the creation of a nonprofit economic development corporation as it seeks to boost business following the elimination of local redevelopment agencies two years ago.

The corporation, which will be staffed by city workers and led by a board of directors composed of City Council members, was approved Tuesday evening. Its tasks will include attracting retailers and entertainment businesses, as well as tenants for the city’s vacant office space.

It also will seek grant funding, provide business consulting services, market the city to visitors and oversee former redevelopment projects that are unfinished.

Glendale, like other cities, has been left with fewer development tools following Gov. Jerry Brown’s decision to end redevelopment programs statewide in 2012. The city used redevelopment aggressively for decades, creating an high rise office district and assisting in the development of the Glendale Galleria and Americana at Brand malls, among other projects.

Startup costs are expected to be well under $10,000. Funds will come from a share of the funds distributed by the state that formerly went to the city’s redevelopment agency.