Star Tribune Thu, 15 May 2008 00:52:30 GMT
New Brighton to return developer's deposit; new proposals in the offing
With the dispute between the city and Rottlund Homes settled, the City Council is set to hear new ideas Tuesday. With troubling economics already clouding New Brighton's Northwest Quadrant redevelopment project, the city announced Wednesday it must return $950,000 of a $1 million advance deposit as part of a settlement with Rottlund Homes. "It was time to move on," said New Brighton city manager Dean Lotter, who also said the city will hear proposals next week from four new developers. "We knew the settlement wasn't going to be easy, but neither was the prospect of $300,000 or $400,000 in litigation costs with no guaranteed outcome." The settlement agreement, approved unanimously by the City Council on Tuesday night, came after a lawsuit and countersuit between New Brighton and Rottlund concerning developing the quadrant north of Interstate 694 and west of 35W.
[[keywords: LandUse;PropertyTax;Metro;]]
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