BUENA PARK : Fedco’s Interest in Mall Applauded
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City leaders are calling it “exciting” that Fedco, a membership department store, may become Buena Park Mall’s newest tenant.
The City Council, acting as the Community Redevelopment Agency, unanimously passed a resolution this week to support Fedco’s moving into the soon-to-be-vacant May Co. building. The shopping mall is in a redevelopment project area.
The resolution authorizes city staff to negotiate a financial contribution by the redevelopment agency, either through a loan or grant funds, to assist Fedco with the rehabilitation of the May Co. store, said May Hui, assistant director of development services-economic development.
The May Co. store is expected to close by Jan. 31.
“I’m excited to see Fedco’s interest in Buena Park,” said Councilman Donald L. Bone. “But there are many issues that need to be resolved before bringing it to a final conclusion.”
Fedco has one Orange County store, in Costa Mesa.
Michael Gantes, senior vice president of Santa Fe Springs-based Fedco Inc., said the company is interested in a second Orange County store in the northeast or central part of the county.
“We’re excited about the possibility of bringing in 500 to 700 jobs,” Gantes said Monday night.
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