Decision: Jurors want South Lake Tahoe to pay $3.2 million for redevelopment dispute | TahoeDailyTribune.com
YOUR AD HERE »

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.


Support Local Journalism

Support Local Journalism

Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Your donation will help us continue to cover COVID-19 and our other vital local news.

For tax deductible donations, click here.

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User