July 29, 2008
...Gary Painter, director of research for the Lusk Center for Real Estate at USC, said financial penalties like the one officials unveiled today can sometimes help get projects moving. But Painter was quick to note that the $250,000 monthly penalty seemed "not a large sum of money relative to the scale of the project."
Painter also questioned whether the penalty would in any real way change Related's ability to quickly procure a construction loan...