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Money missing after suspect redevelopment deal in Bell

Mar 23, 2011 8:17:09 PM- latimes.com
The city paid more than double the assessed value for a parcel on busy Atlantic Avenue. The deal required the seller to donate $425,000 to the city, but it's unclear what happened to that money.

The city of Bell bought a piece of land for more than double its assessed value as part of a highly unusual redevelopment deal that required the seller to donate $425,000 back to the city — a sum that now cannot be accounted for, according to records and interviews.

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