Real Property
Commercial Property
Movie Theater
Estate of Douglas M. King, Janet C. King, and Mary Lou King v. Bayfair 580 LLC and City of San Leandro
Published: Mar. 2, 2013 | Result Date: Feb. 7, 2013 | Filing Date: Jan. 1, 1900 |Case number: HG04140170 Settlement – $7,750,000
Facts
The City of San Leandro and its then-redevelopment agency sought to bring a movie theater to the Bayfair Center. In 2000, the agency signed an agreement guaranteeing that the lease payments would be made to the property owner (Plaintiffs). However, when the parties defaulted on the lease, Plaintiffs looked to the redevelopment agency for payment and to its successor agency following the state's dissolution of redevelopment agencies.
Damages
Plaintiffs sought $46.8 million.
Result
The City agreed to pay $7.75 million to settle the lawsuit.
Other Information
Mediator: Hon. Alfred Chiantelli, ADR Services.
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