Starting on September 30, daily fines up to $500/day will be assessed against the property owner for its failure to find a suitable replacement market. The fee is set by code and that is the maximum allowed by the code. College Terrace was a different situation, since during discussions about a grocery store to replace JJ&F, there was a restrictive covenant put in place (with the approval of the property owner) that increased the penalty to $2,000/day if the replacement tenant left and another grocery store was not put in place within 6 months. The recent closure of the Fresh Market at Edgewood Plaza has prompted a number of questions from the community, most particularly about the requirement of the developer (Sand Hill Properties) to ensure that another grocery story occupies the site.
Visit http://www.cityofpaloalto.org/edgewood for more information or to sign to receive an email from the City on any new information on the status of Edgewood Plaza Shopping Center.