Critical Agreement Completed for Purchase of City-Owned Land Needed for Light Rail Extension’s Maintenance and Operations Facility

The Gold Line Construction Authority and City of Monrovia have agreed to purchase terms for 14-acres of city-owned land within the 24-acre M&O site. The purchase terms will now go to the Authority Board and City Council for final approval.
In an email sent out at 5:40 PM Friday the GLCA says “Although negotiations have been challenging over the last few months, all parties have stayed strongly committed to making this critically important transaction happen, as well as remained unwavering in their dedication to the project. “
“Because our Funding Agreement with Metro requires the Authority to own half of the land for the M&O facility before significant funds are transferred to the Authority to build the Pasadena to Azusa extension, this agreement could not have come at a better time.

August 1, 2011

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