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“In towns and cities... there is no more important institution than the local paper.”
Warren Buffett
June 21, 2025
Here is a fully combined, polished article merging both your original story and the official update from the Economic Development Subsidy Report:
La Mirada to Review $20 Million Subsidy Deal with Living Spaces Furniture
By Brian Hews
The City of La Mirada will hold a public hearing on Tuesday, July 8, 2025, to review and discuss an updated Economic Development Subsidy Report outlining financial incentives granted to Living Spaces Furniture LLC and its e-commerce arm, Livingspaces.com.
The report, released in compliance with Government Code Section 53083.1, reveals that from January 2022 through December 2024, Living Spaces received $3,107,878.52 in rebated sales tax revenue under a 20-year Operating Covenant Agreement approved in late 2021. In that same period, the City of La Mirada also retained an equal amount—$3,107,875.52—as its net share of the generated revenue.
Under the terms of the agreement, La Mirada rebates 50% of sales tax revenue attributed to Living Spaces’ taxable sales back to the company each quarter. The total value of the incentive package is estimated at up to $20 million over the life of the agreement, while the City projects its own net gain at approximately $40 million in sales tax revenue.
Living Spaces committed to expanding its footprint at its 278,000-square-foot facility on Artesia Boulevard as part of the deal. At the time of the agreement, the company employed 440 full-time workers in La Mirada. As of the most recent update, that figure has increased to 516, representing a net gain of 76 full-time jobs. Earlier estimates anticipated the creation of 50 to 150 new positions.
City officials maintain the deal was necessary to prevent the relocation of Living Spaces’ lucrative e-commerce operations, possibly out of state. A key clause in the agreement ensures La Mirada remains the designated point of sale for online transactions—an arrangement expected to yield millions in otherwise lost local tax revenue.
The report also affirms that no state or federal subsidies are involved in the deal. Additionally, the agreement includes clawback provisions, allowing the City to cancel future payments if Living Spaces fails to uphold its obligations, including maintaining its online sales presence in La Mirada.
The updated subsidy report is available here.
The public hearing will take place at 6:30 p.m. on July 8 in the Council Chambers at La Mirada City Hall, 13700 La Mirada Boulevard. Residents are encouraged to attend or submit comments to the City Clerk ahead of the meeting.