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The city of Downey has reached a deal to purchase property at the southwest intersection of Firestone and Paramount boulevards for its appraised value of $690,000.
In addition, Downey agreed to pay relocation costs for La Chiva Loca restaurant. The city plans to tear down the restaurant and an adjoining vacant space to accommodate wider traffic lanes.
The sale agreement could be ratified by the city council on Tuesday.
Property owners Javier and Maria Uribe agreed to sell the land at its appraised value of $690,000, according to a staff report.
City officials are hoping to keep La Chiva Loca in Downey, which is known for its pork skin tostadas and ahogada recipes.
A paint and body shop also located on the property will remain.
According to the staff report, about 58,000 vehicles travel the Firestone and Paramount boulevard intersection on a typical weekday and traffic is projected to increase 22 percent by 2030.
An extensive street rehabilitation project is expected to get underway this year, which will include widening the street and reconstructing the curb at all four corners of the intersection.
A right-turn only lane will be installed on Firestone approaching Paramount, along with two left-turn lanes on Firestone at its eastbound approach to Paramount.
The city is also negotiating to buy property at the intersection northeast corner, the site of a 76 gas station, and southeast section, where there is a CVS pharmacy.