DOWNEY — The Downey City Council on Tuesday will consider approving a development funding agreement intended to bring a Costco warehouse and gas station to Firestone Boulevard.
The agreement involves the city, Costco Wholesale Corp., Downey Nissan, Andrews Rancho del Norte and Andrews Rancho del Sur. It lays out a two-phase plan that would first relocate Downey Nissan to a new site across Firestone Boulevard, then clear the way for Costco to build on the former All American Home Center property and the current Downey Nissan site.
City staff is recommending the council approve the Master Development Funding Agreement, appropriate $10.5 million from the city’s General Fund Reserve and authorize the city manager to execute the agreement and related documents…