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LID Lawsuit Settled

2:30 pm February 20th, 2013

By Scott Shiner

Kuna Melba News staff writer

 

Mayor Greg Nelson announced a special City Council meeting to be held Wednesday night to approve and sign the LID lawsuit settlement.  This will finalize the negotiated agreement between the city, banks and properties that financed the North Wastewater Treatment Plant.

“At $30 million this is the biggest legal and financial issue this city has had to deal with,” said Mayor Nelson.

This agreement has been negotiated over the last year and will finally settle the LID lawsuit, define the transfer of EDUs to Key Bank and direct how future sales of those EDUs will be handled by the city. “I think the important part for the city is that with this settlement, land available for development will no longer have an $11,000 dollar per acre sewer assessment attached to it,” stated Nelson

Properties will be available once again for development and can be sold at current land value without having to worry about paying for the former LID. This will allow new building permits to be issued and pending construction projects to be able to proceed. 

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Posted by on February 20, 2013. Filed under News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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