Home Depot project stalled
By Sylvie Belmond belmond@theacorn.com

The Home Depot store slated for construction behind the Moorpark Marketplace may be the latest casualty of the economic downturn affecting the region.

The 137,000-square-foot home improvement store, narrowly approved by the City Council in August 2006, was scheduled to open at the end of this year. But plans have changed, according to Sarah Molinari, spokesperson for Home Depot.

"I was told that construction won't proceed in Moorpark at this time because of lower than expected performance of Home Depot stores nationwide," said David Bobardt, planning director for Moorpark. "Apparently, even some stores already under construction were cancelled," he said.

"We're looking at all our options for that site and no final decisions have been made at this point," said Molinari. Home Depot may still opt to build later, she added.

"Frankly we're not surprised at the decision to hold off on opening, given the economy. It's a disappointment but it's not a surprise," said Hugh Riley, assistant city manager.

"Business is tough everywhere," said Councilmember Janice Parvin.

The new Home Depot would have generated about 250 jobs and $400,000 to $500,000 in annual sales tax revenue for the city.

The economic loss to Moorpark is significant, said City Manager Steve Kueny.

"It's a huge impact; we'll lose thousands of dollars in tax revenue," said Dale Parvin, president of the board of directors for the Moorpark Chamber of Commerce.

If Home Depot doesn't take shape, residents will also lose out on the convenience of having a good quality home improvement retailer in the community, said former Councilmember Clint Harper, who had voted in favor of the project.

Home Depot has a 20-year lease for the site just west of the 23 Freeway. According to Bobardt, the company is obligated to pay rent regardless of whether or not the site is developed. Home Depot could sublease the site to another user, but any other type of building or design for the site would have to be reviewed by the planning commission and the City Council for approval, Bobardt said.

If the site is not subleased, Home Depot can reevaluate the decision not to build and begin construction of the approved project at any time, he said.