Santa Clarita City Council members are continuing to react with skepticism about a request from the owner of the Valencia Town Center mall for $60 million to $75 million in taxpayer funds to pay for a new parking structure.
The proposal, which has not been publicly released by the mall owner or the city, was first reported by The Signal last week after sources described the contents of a letter from the company proposing the funding.
Centennial, a Dallas-based vertically integrated developer — which means it plans to own and operate the renovated property – is asking the city for the funding to get started on its first phase of the redevelopment. On Thursday, both Santa Clarita Mayor Bill Miranda and Councilman Jason Gibbs said the ask gave them pause.
The following day, council members Patsy Ayala and Marsha McLean also shared their reactions, with Ayala saying she wanted to wait and see the analysis on the numbers for the deal, and McLean saying the city had a very fiscally conservative track record that was important to her.
“Our city, you know, has been very careful to never spend more than we take in,” McLean said, “but I think we need to negotiate with Centennial and see what kind of an agreement we can come to.”
When asked if the big-dollar request sounded like a negotiation tactic to the veteran council member, she laughed and said she wouldn’t be able to guess on their plans.
“I have no idea what they’re thinking but, but you know, what we always do is we try to do what’s best for the entire community,” she said, “and most developers are happy to negotiate with us to come out with a good project and a good outcome.”
Councilwoman Laurene Weste said it’s too soon to make any decisions at this point in the process.
“I need a lot more information,” Weste said in a phone interview Monday. “It’s a huge part of the community, the town center, so I need a lot more information to make any decisions on anything.”
Centennial has repeatedly said it’s too soon for them to share any details, but added that they’re working “side-by-side” with city officials on the plans.
Staff members from the city’s Planning Division have repeatedly indicated there have been no official plans submitted, but much of the details being discussed have come from what city officials have referred to as “show-and-tells” from the developer, and statements council members or sources familiar with the deal who are not authorized to speak publicly.
The plans being discussed for the first phase have included: a Costco with a gas station near the Chick-fil-A; a Dick’s Sporting Goods Store with a field attached for customer play; a pair of sit-down restaurants, Il Fornaia and Capitol Grille; 300 senior housing units; and a 70-room hotel.
Ayala said she considered herself “a cheerleader for business” and that she wasn’t able to comment until she had had a chance to analyze it.
“We received the proposal, that’s where we are,” Ayala said. “And of course, I would like to analyze it within our city to see that it’s feasible. Because I don’t want to just talk and say, ‘Yes, let’s put some money (into the project),’ if I haven’t analyzed how these finances are going to (affect) funds for future projects.”
Signal Staff Writer Tyler Wainfeld contributed to this report.
