Mohanna: K Street Deal Possible "In Next Week"


Share |
(Sacramento, CA)
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.