Mohanna: K Street Deal Possible "In Next Week"
KXJZ File/Ben Adler
The long and bitter dispute between the city of Sacramento and K Street property owner Moe Mohanna could be resolved in the next week. That would clear the way for development of the downtrodden K Street Mall.
Monday, May 12, 2008
The dispute is over nine Mohanna-owned properties in the 700 and 800 blocks of K Street. A land swap deal with Mohanna, the city and its preferred developer, Joe Zeiden, stalled. So in December, the city council unanimously voted to try and seize Mohanna’s properties through eminent domain.
On Monday, Mohanna told KXJZ News that he and the city recently started mediation talks – and he’s cautiously optimistic a deal can be reached in the next week.
Mohanna: “We are hopeful that Mr. Zeiden will do the 700 block. The city’s insisting he should do that. And the city is providing us with certain benefits and concessions so that we and our developer will do the 800 block.”
And by benefits and concessions, Mohanna means money to help develop his project.
City spokeswoman Amy Williams declined comment, citing a confidentiality agreement. She said the city will honor that agreement. A lawyer for Zeiden says his client would be fine with the terms Mohanna spoke of.