A public hearing to consider a report on a economic subsidy being paid to the operator of the Rodeo 39 Marketplace on Beach Boulevard is on the agenda for the Stanton City Council when it meets on Tuesday.
In 2019 the city entered into a “public benefit agreement” with Rodeo 39 Public Market and Shops LLC. That agreement called for a $2.25 million loan, which the developer would repay through a tax-sharing agreement from Oct. 1, 2022 through Oct. 1, 2030.
The developer would receive a credit equal to 50 percent of the tax revenue generated by Rodeo 39 – a popular food hall – and two stand-alone eateries, Raising Cane’s (a “hot chicken” fast food restaurant) and an In-N-Out hamburger restaurant…