One Beverly Hills, the development project underway at the southwest intersection of Santa Monica and Wilshire Boulevards, will receive up to $550 million in funds generated through city-issued bonds in the coming years. The decision came following a public hearing and vote by the Beverly Hills City Council at its Aug. 19 meeting.
The council unanimously approved the request of developer Cain International (“Cain”) to establish a Community Facilities District (CFD) including two improvement areas within One Beverly Hills, to issue the requested bonds and to levy special taxes on entities within the CFD to repay those bonds.
