Decision: Jurors want South Lake Tahoe to pay $3.2 million for redevelopment dispute
Jurors in El Dorado Superior Court decided the South Lake Tahoe Redevelopment Agency should pay $3.2 million for a property in the Stateline redevelopment area where the value was disputed.
The property, where Taco Bell, Paradise Timeshare Resale and Real Estate and Shoreline Ski and Sport were located until earlier this year, was appraised by the redevelopment agency at $2.5 million, said Eugene Palazzo, director of the South Lake Tahoe Redevelopment Agency.
Appraisers for the land-owners valued the property at $3.7 million, Palazzo said.
Out of four other disputes over the values of properties acquired by the city in the Stateline redevelopment area using eminent domain, three have been settled out of court and the fourth remains in negotiations, Palazzo said.
Lawyers representing the property owners were not immediately available for
comment on Friday.