The LB City Manager's office on January 25, 2001 released to LBReport.com and other media the following written statement re the QW Bay Project:

"After reviewing Developers Diversified Realty (DDR) Corporation's last and final offer during a closed session meeting of the Long Beach City Council on Tuesday, January 23, the Council directed City Manager Henry Taboada to prepare an amended and restated development and disposition agreement for consideration and possible approval at a future Council meeting.

The DDR offer came in response to a notice from City Council sent to DDR on December 21, 2000 that it had until January 25th to remedy unsatisfactory conditions related to the development of the Queensway Bay project."