Contracts
Breach of Contract
Fraud and Negligent Misrepresentation
KEB Enterprises, LLC v. Redevelopment Agency for the City of Indio, et al.
Published: Jul. 9, 2011 | Result Date: May 12, 2011 | Filing Date: Jan. 1, 1900 |Case number: RIC 535413 Settlement – $2,580,000
Facts
In Nov. 2007, the City of Indio entered into a lease agreement with KEB Enterprises to lease a site along Indio Boulevard for $1 a year for 50 years in exchange for KEB's design and construction of a building. On Sept. 8, the City informed KEB the lease would be terminated based on a breach of contract, including lack of funding.
Contentions
PLAINTIFF'S CONTENTIONS:
KEB filed suit against the City, alleging breach of contract, fraud, and negligent misrepresentation. KEB contended that the City had no grounds to terminate the lease.
Damages
KEB sought $10 million in damages.
Result
The parties reached a settlement for $2.58 million.
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