Monday, April 27, 2015

KIMCO and city talk about plans for shopping centers

By Jane Northrop

Concerned about the numerous vacancies in Pacifica shopping centers owned and operated by
Kimmy K. - Owner of KIMCO?
KIMCO Realty, City Council members directed staff to engage in a conversation with KIMCO about their long term plans for the shopping centers.

Out of the meeting that occurred Mar. 26 with Pacifica Planning Director Tina Wehrmeister, City Manager Lorie Tinfow, and three KIMCO reps including Western Regional President Armand Vasquez, a commitment to communicate more frequently about issues key to both the city and the realty corporation emerged.

Council Member Mike O'Neill was the one who encouraged his colleagues to take a tough stand on vacancies by developing a vacancy ordinance. His colleagues did not go that route, but they did support opening up communications with KIMCO to find out what its long term plans are for the shopping centers.

"There is a lot of community concern," O'Neill said. "I would like to see what happens working cooperatively before the hammer comes down. I was disappointed to see the week after the meeting, the pet store closed and two others are concerned with rent increases."

"They do have a plan," City Manager Tinfow said. "They said tenants have their own considerations to take into account. Other businesses have moved in, such as Pet Food Express."

KIMCO is now the sole owner of the Linda Mar Shopping Center, having recently bought out a partner, but still owns the Fairmont Shopping Center with a partner.


Submitted by Victor Spano


Steve Sinai said...

Very vague, unsatisfactory answers from KIMCO. I was originally against any kind of tax on empty storefronts, but I've changed my mind. KIMCO's policies are costing the city sales tax revenues.

Anonymous said...

Market rent is Market Rent.

Try to tax empty commercial real estate in San Francisco and New York and you will be laughed out of town.

Anonymous said...

Kimco's response is the equivalent of a pat on the head for a pesky child. Truly pathetic to find city leaders and staff trying to read substance into it. The market will dictate. Period. And I wish it would dictate a tear down and a modern, new center for Pacifica.

Anonymous said...

Hardiharhar at the curvy corporate Kimco image.

I heard it at Round Table said...

I don't get why Ms. Kardashian is pictured, but as they say in the hood, damn, that's one fine assed biatch. She is ...widely known for her many exploits both on and off camera and her physique is admired by both men and women of all ages. Kudos to her for her and her husband Kayne West's recent visit to Armenia in remembrance of the Armenian genocide.

What ...widely concerns me about this KIMCO issue is that Mr. Vasquez in the Tribune article said he initiated the meeting, and in the 4/13 info item staff report Ms. Tinfow said she initiated the meeting. It makes me distrust Ms Tinfow and Mr. Vasquez. Did she make a misrepresentation to the Council? Or did he make a misrepresentation to the paper. Maybe this could be innocent credit grabbing but I'd love to know who called who first. Read the article and read the info item in the interactive portal.

My memory of this request to contact KIMCO or write a KIMCO letter back at the February 9th council meeting is as follows....Ms. Tinfow said the new Economic Development Manager and the Economic Development Committee were going to tackle talking to KIMCO. During the council meeting I Viewed some "testiness" between Tinfow and O'Neill where writing to KIMCO was first dicussed. It's all in the minutes.

Anonymous said...

153 Testiness? I think city managers, especially smart ones like Tinfow, must grow weary of council's nonsense. Vote-grabbing, constituent-pandering, politician's nonsense. Here, among the "family" it's part of the job, but in front of strangers? You got to draw the line somewhere...straight to a committee or an underling not yet on the payroll. Who knows who or what actually brought about that meeting? Could have been a rogue wave, but rest assured it will be cited henceforth as the moment the earth moved.

mike bell said...

Armand Vasquez, Western Regional President of KIMCO, is claiming that the market dictates the rents and determines tenancy.
With 9 vacancies at Linda Mar Shopping Center and 7 vacancies at Fairmont Shopping Center it appears that Armand either isn't listening to the market or has something else up his sleeve.
City officials, please get to the bottom of this embarrassing and very harmful situation.

Anonymous said...

As if Kimco gives a freak about what this town thinks. Their spokesman put the nail in that coffin when he referred to the community's lack of support, ie, not enough paying customers to support Kimco tenants. If turning the location into a swap meet made them more money, they'd do it. Oh, and they'll communicate as long as they don't have to divulge any real info. City Council must be giddy over that.

Chris Porter Gabrielli said...

I agree with many of the comments here but feel strongly that Lorie Tinfow initiated the call. KIMCO asking the City to ask the citizens what we want in my estimation is just a "stalling tactic" to keep us all off their back for say 6 mos. They will put whoever in that meets their price.
Comparing this seaside location to Carmel, which I have again heard they are doing, is financial ignorance.

Anonymous said...

I think Mike brought it up at a council meeting.

In Fact I remember Mike asking city council to ask the city attorney or city manager to draft a letter to Kimco.

Anonymous said...

All a charade.