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CIM Group relents, will remove giant ads

March 9, 2009 12:00:00 AM PDT
A local real estate developer has backed down in a dispute over huge ads on the sides of buildings.According to the Los Angeles Times, CIM Group has agreed to take down five giant ads in Hollywood. Last November, the L.A. City Council gave CIM approval for three ads. But then the company reportedly violated the agreement, putting up three additional ads. Redevelopment commissioners called on the city to stop doing business with CIM unless the unpermitted signs were removed. CIM has secured $28 million in taxpayer subsidies from the city.

CIM stated it believed the signs were legal when they were installed. But CIM has agreed to remove the three disputed signs, as well as two others, "in order to avoid any further distraction or potential disagreement," according to a written statement from the company.

CIM is seeking permission to put up 11 other "supergraphic" ads at "Midtown Crossing." That is a shopping center being developed by CIM on Pico Boulevard, that's been stalled for more than a year. The ads would make the project more lucrative for CIM.


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