New tenant will bring in
much needed revenue.
By Rico Dizon
T
he City of La Palma may yet
regain its huge loss in sales
tax revenues brought about
by the pull out of BP/ARCO s fuel
sales group in the third quarter of
last year that precariously put the...
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New tenant will bring in
much needed revenue.
By Rico Dizon
T
he City of La Palma may yet
regain its huge loss in sales
tax revenues brought about
by the pull out of BP/ARCO s fuel
sales group in the third quarter of
last year that precariously put the
City almost to the brink of fiscal
emergency.
After the infamous oil rig debacle in the Gulf of Mexico four
years ago, BP (British Petroleum)
had to sell its refinery in the City
of Carson and its ARCO retail
network in the Southwest.
The buyer is the Tesoro Companies, Inc.
who most recently expressed willingness to bring back
its ARCO sales and marketing
operations to the same location in
La Palma –a seven-story building
at Centerpointe Drive and Valley
View Boulevard and very close to
91 Freeway.
The La Palma City Council
meeting on Feb.
5 approved the
recommendation by Community
Development Director Douglas
Dumhart to adopt a resolution approving an Operating Covenant
with Tesoro.
In his report, Dumhart said
Tesoro has negotiat
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