Longmont, Dillard’s agree on $5.5M price for store
“The city of Lomgont will pay Dillard’s Inc. $5.5 million for the retailer’s store at the Twin Peaks Mall, according to the Boulder County Business Report.
The settlement puts an end to a condemnation lawsuit filed against Dillard’s by the Longmont Urban Renewal Authority, or LURA. The urban renewal authority, whose members come from the Longmont City Council, has been trying to take the space Dillard’s owns and occupies at the mall in order to facilitate redevelopment of the property.
Dillard’s maintained the property was worth $6.3 million, while appraisers for LURA said the figure was $3.03 million.”
Denver Business Journal 22 January 2014.