Sensible deferment

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Regarding Jonathan Friedman’s article, we understand and appreciate the points made on both sides of the issue regarding the request by Mr. Richard Weintraub and Mrs. Richard Sperber to defer up to $1.5 million in rent on the Lumber Yard Mall. Taking everything into account, we support the decision by the City Council to allow this deferment.

We believe that Mr. Weintraub and Mr. Sperber are knowledgeable and trustworthy commercial property owners and managers and that the City Council made a wise decision in selecting them for this project. We appreciate that they are responding to the desire of our community to support local businesses by reserving space for ultimate rental by “mom and pop” operations to their financial disadvantage.

When they submitted their bid to the City Council initially, they could not have anticipated the worldwide financial meltdown just at the time that they were trying to complete and launch the project. That they succeeded is a tremendous accomplishment and the best demonstration of the correctness of the City Council in partnering with them and deferring the rent.

Gregory O’Connor

Salvatore Sampino

Malibu Eye Center Optometry