from today's Sacramento Bee (10/8):
Council approves K Street land deal
By Mary Lynne Vellinga - mlvellinga@sacbee.com
Published 12:00 am PDT Wednesday, October 8, 2008
"The Sacramento City Council approved a settlement Tuesday with downtown property owner Moe Mohanna that will clear the legal logjam blocking redevelopment of the bleakest stretch of K Street.
Approved unanimously by council members meeting in closed session, the settlement of the city's eminent domain lawsuit against Mohanna includes payment of $18.6 million in city redevelopment funds for his nine properties in the 700 and 800 blocks of K Street.
Mohanna also has agreed to drop the various lawsuits he filed against the city.
Mayor Heather Fargo said the settlement probably will be finalized in Sacramento Superior Court by the end of this week." ...
for the complete story
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