Not so grand
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Re “Grand Ave. developer seeks waiver,” Feb. 13
After winning the right to build the Grand Avenue project, Related Cos. obtained a tax rebate because the company claimed that, under its original proposal, it wouldn’t make any money.
Now, the year the project was originally scheduled to be finished and before one shovel has been turned, Related Cos. returns to seek a waiver of the $250,000-a-month late penalties it agreed to.
Related’s implied threat is that it will walk away from the project.
Let it. The only work it has done is claim that it cannot do the job as agreed and seek better contracts for itself.
Michael W. Boggs
Los Angeles
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