Saturday, October 11, 2008

K Street Settlement

Finally, and one hopes this actually results in creating a hospitable area in that part of K Street, which could become a real destination for tourists if it becomes safer, reduces aggressive panhandlers, and beautiful rather than its current condition which can best be described as blighted.

An excerpt from the Sacramento Bee.

“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.”