Council approves $400,000 community‑benefits agreement tied to new self‑storage project; funds directed to Hay Tree public‑market improvements

Paramount — The City Council voted Feb. 10 to approve a community benefits agreement (CBA) with the applicant behind a proposed self‑storage facility at 7342 Pedersen Lane that staff said will provide $400,000 in one‑time revenue to support improvements to a museum and community room at the Hay Tree Public Market.

Assistant planning director Monica Mercado Rodriguez explained the project background: the development review board approved a 154,500‑square‑foot self‑storage facility in October 2025 and the city later approved a zone change. As a condition of the project’s entitlements, the applicant agreed to a CBA that staff described as a one‑time revenue source for the Hay Tree Public Market site on the former Paramount Salt property.

Staff listed two installments described in the presentation: a payment described in the transcript as a larger front‑end amount and a second installment of $300,000 prior to certificate of occupancy; staff stated the total one‑time revenue would be $400,000 to support museum and community‑room improvements. (Transcript wording on the first installment included a numeric transcription that appears inconsistent; staff said the combined total is $400,000.)

Council voted to approve the CBA; staff said the funding will be used to support the museum and community room at the Hay Tree Public Market and that the item complements other midyear budget proposals. Monica Mercado Rodriguez recommended approval; the motion passed on a unanimous roll‑call vote.

What’s next: staff will coordinate with the project applicant to collect payments according to the conditions of approval and will include disbursement plans for the Hay Tree improvements in upcoming budget or contract‑award items.

(Quoted material attributed to Monica Mercado Rodriguez is drawn from the Feb. 10 council presentation.)