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twitterRedevelopment agency seeking $300,000 loan to settle Riverside
Friday, June 18, 1999 | 6:07 a.m.
A jury in February valued the closed property at $3.2 million, or $1.2 million more than the city offered the hotel owners
City officials at the time said they would appeal the jury's decision, but lawyers are now recommending the city settle the issue by paying $3.5 million. The amount includes $300,000 in interest and attorney fees.
The City Council is scheduled to consider the proposal when it meets Tuesday.
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