Foothills Mall, Sears eminent domain decision on hold for 30 days
“Fort Collins, Foothills Mall and Sears representatives will meet during the next 30 days in hopes of reaching a compromise that spurs redevelopment of the aging Midtown mall without using eminent domain to push Sears out.
The timeout pauses an anticipated Tuesday showdown when the Fort Collins City Council, acting as the Urban Renewal Authority, was expected to decide whether to use its power of eminent domain to force Sears off the property.
Fort Collins City Manager Darin Atteberry flew to Sears’ corporate headquarters in Chicago on Wednesday for one-on-one talks. By the end of the day, Sears and Alberta had agreed to meet during the next month to hash out the department store’s future at Foothills Mall.
Topics on the table will likely include Sears’ property valuation, other options for Sears to remain on site and possible reconfiguration. Reconfiguring the entire site could threaten or delay Alberta’s hope to be open in time for the 2014 holidays.
Atteberry is cautiously optimistic talks will be productive. “Sears is obviously very frustrated with Alberta and the URA, and Don has a timeline and he was frustrated with Sears. At this point, there is no agenda set except to get the parties together to talk about a successful outcome.””
Ferrier, Pat. The Coloradoan 10 January 2013.