Council considers eminent domain to secure redevelopment plan |

Council considers eminent domain to secure redevelopment plan

Susan Wood

The South Tahoe Redevelopment Agency may move today on using eminent domain on five parcets that have held out on selling to a developer to make way for a proposed $410 million convention center complex on 12 acres near Stateline.

Eminent domain is the legal taking of private property from government. The meeting begins today at 9 a.m. at the Council Chambers inside the Lake Tahoe Airport, 1901 Airport Road.

Lake Tahoe Development Co., consisting of Falcon Capital’s Randy Lane of Stateline and DGD Development’s John Serpa of Carson City had already closed or near finalized buying 29 properties located between Highway 50, Cedar, Stateline and Friday avenues. But it had indicated it may need the city’s help to continue with its plan for a convention center, two condominium hotels, a greenbelt area with a pond and walking path as well as retail space.

Seven of the eight addresses are located on Lake Tahoe Boulevard. The other one stands on Friday Avenue.

The city was steadfast in claiming it would only use eminent domain as a last resort. But the proposal is on the fast track, with a groundbreaking deadline of May 2007.

When it approved the concept a few months ago, the city had agreed to kick in about $65 million to help fiance the venture through future revenue proceeds. It had budgeted an estimated $8.5 million in eminent domain costs.

In other business, the City Council may pass a resolution establishing the South Lake Tahoe Tourism Improvement District managed and paid for by lodging properties in town.

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