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Council approves $2.325M in TED Fund support for Rancho Del Rey logistics park
Summary
Council unanimously approved a TED Fund investment assistance agreement totaling $2.325 million over five years to support phase‑2 infrastructure at the Rancho Del Rey Logistics Park, a project staff said could generate roughly $775 million in private investment and 2,000 full‑time jobs.
The City Council on Dec. 16 approved a TED Fund investment assistance agreement for Rancho Del Rey Logistics Park to support phase‑two infrastructure and regional warehousing. Staff recommended a $2.325 million grant paid over five years to support the developer’s move to the next phase.
Karina Brescala of Economic & International Development described the project as "a $775,000,000 investment and an…
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