Lowball Watch — Colorado

Word reaches us informally that the case in Boulder County, Colorado,┬áinvolving the taking of the old Dillard’s department store in Longmont for redevelopment has been resolved. We lack any details — which we will supply when we get them. But the essentials are that the redevelopment agency offered some $3 million, but after a trial on the right to take (which went in favor of the redevelopment agency) the case settled for over $6 million.

Earlier, a local court ruled in favor of the redevelopment agency on the right to take, with the valuation trial to take place later. But it looks like there won’t be any valuation trial because the parties have agreed on compensation at a figure about twice what the redevelopment agency had originally offered.

The case is Boulder County District Court, Longmont Urban Renewal Agency v. DSS Uniter, LLC, Case No. 13 CV30828.

Stay tuned for the rest of the story.

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