City may be honored for Marketplace partnership
The city of Porterville is in line to receive a notable award for its partnership with a private developer.
The award, presented by the California Association of Economic Development, brings statewide public and professional recognition to projects and programs that have made significant contributions to the field of economic development.
According to Porterville City Manager John Lollis, the city is one of two finalist in line to receive the CALED Award of Excellence for the development of the Porterville Marketplace, which came about through a partnership with David Paynter.
Lollis said the city is in the running to receive an award in the public/private partnerships category, which honors development projects between the public and private sector. He said the city’s project involved providing Paynter with a more than $2.5 million, 10-year loan to facilitate the opening of a Kohl’s department store in 2009, which spurred other development in the West Henderson shopping center.
“The project did better than we anticipated,” Lollis said, adding that within two years of the retail store opening, others followed suit. “Kohl’s brought in Marshal’s, Famous Footwear, Rue 21 and PetSmart,” he said.
CALED will present winners at its annual conference April 11 in Long Beach. City officials, including Lollis, the mayor, vice mayor and the city’s economic development director are slated to attend.