Local News in Brief : Burbank OKs Plan to Buy Lockheed Land
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The Burbank City Council approved the purchase of 20 acres of land from Lockheed Corp., which will allow the Burbank Airport Hilton to expand.
The vote was 3 to 2, with council members Al F. Dossin and Mary Lou Howard voting against the purchase. The council two weeks ago approved the expansion, which will almost double the size of the hotel and add a 28,000-square-foot conference center.
Opponents of the project said that the city was unfairly assisting the project’s developer, Lew Woolf. Woolf said he needed financing from the city’s redevelopment agency to complete the project.
Under the agreement, the city will purchase 20 acres of property from Lockheed at $1 million an acre and sell as many as six acres to Wolff for the same price.
Woolf will have 10 years to pay for the land on a no-interest basis, officials said.
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